Monday, September 2, 2013

Resulting Trust

Miami Personal Bankruptcy Lawyer Jordan E. Bublick has over 25 years of experience in filing Chapter 13 and Chapter 7 bankruptcy cases. His office is centrally located in Miami at 1221 Brickell Avenue, 9th Fl., Miami and may be reached at (305) 891-4055.

In the case of In re Lezdey, 2007 WL 2238350 (Bkrtcy.M.D.Fla.)(May, J.) the Bankruptcy Court dealt with a situation involving a conveyance from the debtor to himself and his  brother. The Court held that this does not establish that debtor held a half interest.

The Court noted that under Florida law there are circumstances, such as that involving a resulting trust, where the record owner may be shown not to have any beneficial interest in property and that the presumption of equal ownership may be rebuttable by evidence to the contrary. But the  presumption of equal ownership may fail if there is no designation of each party's fractional interest.