Constructive Trust
A constructive trust is not an actual trust by the traditional definition. It is a legal fiction that is used as a remedy for unjust enrichment. Hence, there is no trustee, but the constructive trust orders the person who would otherwise be unjustly enriched to transfer the property to the intended party.
Definition from Nolo’s Plain-English Law Dictionary
A relationship that arises when someone has wrongfully obtained title to or possession of assets and has a legal duty to deliver them to the rightful owner.Unlike other common trusts, a constructive trust is a temporary measure ordered by a court to correct a wrong.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:13 pm
