Report No. 57
3.3. Purchase in another's name a common form of resulting trust in England.-
Purchase in another's name has been described in England1 one of the most important and common forms of resulting trusts. The rule is that where real2 or personal3 property is vested in a purchaser jointly with others or in another or other persons alone, a resulting trust will be presumed in favour of the person who is proved to have paid the purchase money; the beneficial interest in the property "results" to the true purchaser. The general principle of such trusts was established as long ago as 1788 in Dyer v. Dyer, (1788) 2 Cox Eq 92 (93), by Eyre C.B.
Section 82, Trusts Act is based on the same principle.
1. Parker and Mellows Modern Law of Trusts, (1966), p. 101.
2. Dyer v. Dyer, (1788) 2 Cox Eq 92 (real property).
3. Scotish Equitable Life Assurance Society (in re:), (1902) Ch 282 (in respect of personal property).