What is the test for the presumption of resulting trust in a purchase money resulting trust?
British Columbia, Canada
The following excerpt is from Norkum v Fletcher, 2018 BCSC 904 (CanLII):
The presumption of resulting trust applies in the following circumstances: A purchase money resulting trust arises when a person advances funds to contribute to the purchase price of property, but does not take legal title to that property. Where the person advancing the funds is unrelated to the person taking title, the law presumes that the parties intended for the person who advanced the funds to hold a beneficial interest in the property in proportion to that person’s contribution. This is called the presumption of resulting trust. Nishi v. Rascal Trucking Ltd., 2013 SCC 33 at para. 1.
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