Official Code of Georgia Annotated

Title 53. WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES · Chapter 12. TRUSTS · Article 7. IMPLIED TRUSTS

53-12-131. Purchase money resulting trusts.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
A purchase money resulting trust is a resulting trust implied for the benefit of the person paying consideration for the transfer to another person of legal title to real or personal property.#
(b)
Except as provided in subsection (c) of this Code section, the payment of consideration as provided in subsection (a) of this Code section shall create a presumption in favor of a resulting trust, but such presumption shall be rebuttable by a preponderance of the evidence.#
(c)
If the payor of consideration and transferee of the property as provided in subsection (a) of this Code section are husband and wife, parent and child, or siblings, a gift shall be presumed, but such presumption shall be rebuttable by clear and convincing evidence.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 53-12-131, enacted by Ga. L. 2010, p. 579, § 1/SB 131.

Law reviews

For article, ‘‘Are We Witnessing the Erosion of Georgia’s Separate Property Distinction?,’’ see 13 Ga. St. B.J. 14 (2007). For note, ‘‘The Significance of Stokes v. Stokes: An Examination of Property Rights Upon Divorce in Georgia,’’ see 16 Ga. L. Rev. 695 (1982). For comment on Ashbaugh v. Ashbaugh, 222 Ga. 811, 152 S.E.2d 888 (1966), see 18 Mercer L. Rev. 513 (1967). For comment, ‘‘The Georgia Supreme Court’s Creation of an Equitable Interest in Marital Property — Yours? Mine? Ours!,’’ see 34 Mercer L. Rev. 449 (1982).

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t52-t53-(v40)-2021-pdf.pdf, Volume V40, 2021 edition, page 819; merge action: annotated; file SHA-256 062775612dfc.

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