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Presumption of advancement vs Resulting Trust
#1
Under real estate law, a lot of agent are confused between resulting trust and presumption of advancement.


Quote:Presumption of advancement: A presumption in trust, contract and family law which suggests that property transferred from a parent to a child, or spouse to spouse, is a gift and would defeat any presumption of a resulting trust.



Quote:Resulting Trust: An arrangement whereby one person holds property for the benefit of another, which is implied by a court in certain cases where a person transfers property to another and gives him or her legal title to it but does not intend him or her to have an equitable or beneficial interest in the property.

In Singapore, if the parent transfer a property to his legitimate child or vice-versa, it is considered as presumption of advancement. It will not be possible to claim the property back. The court does not care about the relationship between the parent and child, at that time of transfer or current relationship.
Many unscrupulous real estate salesperson in order to help their client bypass the ABSD encourage them to buy under their children's name. The children fall out with the parents and take the apartment along with them and the parents can do nothing about it.
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#2
Thank you for sharing.
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#3
I think HK and the British law is somewhat different. If the father entrust to the children, and vice-versa, resulting trust works. However the mother case is advancement of presumption. I guess is because men have several wives in the past and this creates a lot of family asset problem.
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#4
Thanks for the post........
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#5
Good to know it....
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#6
What is Resulting Trust?
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#7
Mr. Royston please read the body of the post....
And stop asking this type of stupid question...
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#8
This one only apply to real estate right? It does not apply to other items right?
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#9
I never heard about this term before. Nice to know, hope my parents can gift something to me though.
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