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prior to July 1, 1991, expressly recognized implied trusts but
did not expressly distinguish between implied resulting trusts
and implied constructive trusts.10 The Georgia Trust Act
provides separate treatment for resulting trusts, see Ga. Code
Ann. sec. 53-12-91 (1997), and constructive trusts, see Ga. Code
10 Prior to July 1, 1991, Georgia statutory law provided
(Ga. Code Ann. secs. 53-12-22 and 53-12-26 (1982)):
53-12-22. Distinction between express and implied trusts.
Trusts are either express or implied. Express trusts
are those trusts created and manifested by agreement of the
parties. Implied trusts are those trusts which are inferred
by law from the nature of the transaction or the conduct of
the parties.
53-12-26. Events and conditions giving rise to implied
trust.
A trust is implied:
(1) Whenever the legal title is in one person
but the beneficial interest, either from
the payment of the purchase money or from
other circumstances, is either wholly or
partially in another;
(2) Where, from any fraud, one person obtains
the title to property which rightly belongs
to another;
(3) Where, from the nature of the transaction,
it is manifest that it was the intention of
the parties that the person taking the legal
title should have no beneficial interest * * *
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