Where property is passed to a person but no gift is made, it is held for the owner, this is the Resulting trust; where property should for some reason of public policy or fairness or rule of Equity be held for someone other than the legal owner, this is either the Statutory trust or the Constructive trust; but where legal title to property is held by someone on trust, this is the Express trust.
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Noun 1. a trust created by the free and deliberate act of the parties involved (usually on the basis of written documentation) (synonym) direct trust (hypernym) trust
A trust which is clearly created by the settlor, usually in the form of a document (eg. a will), although they can be oral. - (read more on Express trust)
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