A Trust subsistence and maintenance of his son, during his life. It was determined that the son had only a trust. 33. Where an estate is conveyed or devised to limited after trustees and their heirs, upon trust to pay debts genePayinent of Debts vests rally, or debts particularly specified; and after payimmediately. ment of such debts, in trust for A. B., or in trust to convey such parts of the premises to A. B. as shall remain unsold; A. B. has an immediate trust estate in the surplus, upon the execution of the deed, or the death of the testator. For in cases of this kind, the payment of the debts is not a condition precedent, which must be performed before the subsequent limitation or devise can take effect; but an interest commencing at the same time, and concurrent with the estate given to the trustees. For the words, "after payment of debts," or, "when the debts are paid," only denote the order or course in which the several interests shall take place, in point of actual possession, and perception of profits; without preventing the subsequent estates, whether legal or equitable, from being vested in interest, at the same time with those which are prior to them in point of limitation. Collect. Jur. and Tit. 36. c. 8. Terms for in Trust. Dyer, 369 a. 34. The third mode of creating a trust estate arises Years limited from the answer of all the Judges in 22 Eliz. upon a question put to them by the Lord Chancellor, that where a term for years was granted to A. to the use of, or in trust for B., the legal estate in the term remained in A., and was not executed in B. by the statute of uses. For the words of the statute are, "Where any person is seised to the use of another." Whereas in this case, A. is not seised, not having a freehold, but is only possessed of the term, the word Tit. 8. c. 1. seised being only applicable to a freehold estate. So § 23. that in cases of this kind the person to whose use the term was declared, was driven into the Court of Bac. Read. 42. Chancery for his remedy; where the trustee was compelled to account with him for the rents and profits of the term; and to assign it to him, when required*. clared. 35. By the statute 29 Cha. II. c. 3. § 7. it is How Trusts enacted, "that all declarations or creations of trusts may be deor confidences, of any lands, tenements, or hereditaments, shall be manifested and proved by some writing, signed by the party who is by law enabled to declare such trust; or by his last will in writing; or else Tit. 38. c. 10. they shall be utterly void and of none effect." 36. A declaration of trust requires no particular form, provided it be proved or manifested in writing: therefore a letter from a trustee, disclosing the trust, will be sufficient. In a modern case Lord Alvanley, M. R. said it Forster v. Pitfal, was not required by the statute that a trust should 3 Ves. Jun. be created by writing; for the words of the statute 696. were very particular in the clause respecting declarations of trust. It did not by any means require that all trusts should be created only by writing; but that they should be manifested and proved by writing. Plainly meaning that there should be evidence in writing, proving that there was such a trust. Therefore unquestionably it was not necessarily to be created by writing, but it must be evidenced by writing; then the statute was complied with, and the great danger of parol declarations, against which the statute was intended to guard, was entirely taken away; it 12 Ves. 74. must however be proved in toto; not only that there was a trust, but what it was. *There may be a trust of a rent, as well as of land; of which an account will be given in Title XXVIII. Rents. Hampton v. Cottington v. Fletcher, 2 Atk. 155. Resulting or implied Trusts. 1 P. Wms. 112. Contract for a Purchase, 39. 37. Where a trust is confessed in an answer in Chancery, it will be sufficient. 38. A. in consideration of 80 l. conveyed land to B. absolutely. A. brought a bill to redeem. B. by his answer insisted that the conveyance was absolute; but confessed, that after the 801. was paid with interest, it was to be in trust for the plaintiff's wife and children. This was held to be a sufficient declaration of trust. 39. Besides the above-mentioned direct modes of creating trust estates, there are several other cases where trusts arise from the evident intention of the parties, and the nature of the transaction; which are enforced in equity, and usually called resulting trusts, or trusts by implication. These are expressly saved by a clause in the statute of frauds, § 8, by which it is provided, "that where any conveyance shall be made of any lands or tenements, by which a trust or confidence shall or may arise, or result by implication, or construction of law, or be transferred or extinguished by an act or operation of law; then and in every such case, such trust or confidence shall be of the like force and effect, as the same would have been if the statute had not been made." It has been held by Lord Cowper, that this clause must relate to trusts, and equitable interests, and cannot relate to a use, which is now a legal estate. 40. Where a contract is entered into for the 1 Cha. Ca. purchase of a real estate, a trust immediately results to the purchaser; the vendor becomes a trustee for him till a conveyance of the legal estate is made; Waterworth, and his interest becomes personalty, consisting merely of a right to the purchase money. 9 Mod. 78. Ripley v. 7 Ves. 425. Purchase in the Name of a Stranger. 41. Where an estate is purchased in the name of one person, and the consideration is given or paid by another; there is a resulting trust in favour of the person who gave or paid the consideration. 1 Vern. 109. 2 Atk. 71. 42. Thus it was resolved by the Court of Chancery Anon. in 35 Cha. II. that where a man bought land in 2 Vent. 361. another's name, and paid the money, it would be a trust for him, who paid the money, though no deed declaring the trust; for the statute 29 Cha. II. did not extend to trusts raised by operation of law. 150. Dyer v. Dyer, 1 Watk. Cop. 216. 43. Lord Hardwicke has said, that where a pur- 9 Mod. 235. chase is made, the purchase money being paid by one, and the conveyance taken in the name of another, there was a resulting trust for the person who paid the consideration. This was where the whole consideration moved from such person. But he never knew it, where the consideration moved from several persons; for that would introduce all the mischiefs which the statute of frauds was intended to prevent. Suppose several persons agreed to purchase an estate in the name of one, and the purchase money by the deed appeared to be paid by him only; he did not know any case where such persons should come into the Court of Chancery, and say, they paid the purchase money; but it was expected there should be a declaration of trust. 15 Ves. 43. 44. In all cases of this kind the payment of the Finch v. money must be proved by clear and undoubted Finch, evidence; for otherwise a court of equity will not interfere. But evidence of any kind, even parol evidence, is admissible to rebut a resulting trust, and to shew a purchaser's intention, that the estate should belong to the person in whose name the conveyance was taken; upon the same principle that Tit. 11. c. 4. parol evidence is admissible to rebut a resulting use. 45. Thus, in a case in 1693, the counsel contended, Bellasis v. Compton, that where there was an express trust declared, 2 Vern. 294. VOL. I. Hh Hampton v. Cottington v. Fletcher, 2 Atk. 155. Resulting or implied Trusts. 1 P. Wms. 112. Contract for 1 Cha. Ca. 39. 37. Where a trust is confessed in an answer in Chancery, it will be sufficient. 38. A. in consideration of 801. conveyed land to B. absolutely. A. brought a bill to redeem. B. by his answer insisted that the conveyance was absolute; but confessed, that after the 801. was paid with interest, it was to be in trust for the plaintiff's wife and children. This was held to be a sufficient declaration of trust. 39. Besides the above-mentioned direct modes of creating trust estates, there are several other cases where trusts arise from the evident intention of the parties, and the nature of the transaction; which are enforced in equity, and usually called resulting trusts, or trusts by implication. These are expressly saved by a clause in the statute of frauds, § 8, by which it is provided, "that where any conveyance shall be made of any lands or tenements, by which a trust or confidence shall or may arise, or result by implication, or construction of law, or be transferred or extinguished by an act or operation of law; then and in every such case, such trust or confidence shall be of the like force and effect, as the same would have been if the statute had not been made." It has been held by Lord Cowper, that this clause must relate to trusts, and equitable interests, and cannot relate to a use, which is now a legal estate. 40. Where a contract is entered into for the a Purchase, purchase of a real estate, a trust immediately results to the purchaser; the vendor becomes a trustee for him till a conveyance of the legal estate is made; Waterworth, and his interest becomes personalty, consisting merely of a right to the purchase money. 9 Mod. 78. Ripley v. 7 Ves. 425. Purchase in the Name of a Stranger. 41. Where an estate is purchased in the name of one person, and the consideration is given or paid by |