Gale v. Harby

Citations

• 20 Fla. 171

Syllabus

<p>1 Trusts arising under a will are express trusts to by controlled and i.-.U-rproto 1 under the terms of tbo will.</p> <p>S. Where, by a will, a portion of tlie property is devised or bequeathed to certain of the grandchildren of tlie testator, with directions to Ms executors to hold it in trust, for and to use and control it for the interest of the grandchildren until they should marry or become of lawful age, when it was to bo divided among them, the mother of such grandchildren acquires no interest in the property.</p> <p>3. Farol testimony is admissible to show that the grantees in a deed of conveyance of land absolute on its face, purchased as trustees, with a knowledge of the trust, that the cash paid at the time of the purchase was money realized from the sale of the trust property, and that subsequent payments of the balance of purchase money due was money realized from the use of the property purchased with the trust fund. A purchase with trust funds is virtually a purchase -paid for by the cestui qvc trust. Such a purchase is a trust by operation of law not within the statute of frauds, and the fund may be followed so long as its general character can be identified. Where the'grantees admitted the trust, and that the purchase was made with trust funds, as well as that they held as trustees, the trust arises by operation of law based upon presumed intention of the parties, and is a resulting trust.</p> <p>4. Whore a party knows that he is dealing with trust funds he is held to knowledge of the character of the trust whether he advises himself of its precise nature or not. A knowledge of the fact that another person has equitable title to the fund is sufficient to charge him with knowledge of the character of the trust.</p> <p>5. Admission by parties sought to be charged as trustees that they were trustees sworn to by disinterested witnesses, such admissions being accompanied by corroborating circumstances, are evidence of the highest character. This in a