trust in invitum

trust in invitum
A trust raised by operation of law without the consent of the trustee. Such a trust arises where goods have been stolen or converted to the use of the taker and sold, with respect to the proceeds, whether such proceeds are in the form of money or other property purchased therewith, and equity will in such cases enforce a trust in invitum in the original taker or in his assignee with notice. Likewise, where a trustee or other fiduciary has misapplied trust funds a like trust will be raised. Lightfoot v Davis, 198 NY 261, 91 NE 582. See trustee de son tort.

Ballentine's law dictionary. . 1998.

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  • trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

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