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Trusts Law
Trusts Law
> A trust is a fiduciary relationship with respect to property which involves the existence of equitable
duties imposed upon the holder of the title to the property to deal with it for the benefit of another
> A person who establishes a trust is called the trustor while the one whose confidence is reposed is the
trustee, and the person for whose benefits the trust has been created is referred to as the beneficiary
> It is the right to the beneficial enjoyment of property, the legal title to which is vested in another
> It is ten years because just as a resulting trust is an offspring of the law, so is the corresponding
obligation to convey the property and title thereto to the true owner.
> Reckoning point of repudiation is from the moment his possession thereof becomes adverse
> A similar instrument shall be made upon the original instrument creating or declaring the trust or other
equitable interest with a reference by number to the certificate of title to which it relates and to the
volume and page in the registration book in which it is registered
> No instrument which transfers, mortgages, or in any way deals with registered land in trust shall be
registered, unless the enabling power thereto is expressly conferred in the trust instrument or unless a
final judgment or order of court of competent jurisdiction has construed the instrument in favor of
the power, in which case a certified copy of such judgment or order may be registered