Eagle Mining and Improvement Co. v. Hamilton
New Mexico Supreme Court
Appeal from the District Court for Lincoln County before Edward A. Mann, Associate Justice. Where upon a purchase of property the conveyance of the legal title is taken in the name of one person while the consideration or a .part of it is given or paid by another not in the way of a loan to the grantee, a resulting trust immediately arises from the transaction, and the person named in the conveyance will be the trustee for the party from whom the consideration proceeds.
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Appeal from the District Court for Lincoln County before Edward A. Mann, Associate Justice. Where upon a purchase of property the conveyance of the legal title is taken in the name of one person while the consideration or a .part of it is given or paid by another not in the way of a loan to the grantee, a resulting trust immediately arises from the transaction, and the person named in the conveyance will be the trustee for the party from whom the consideration proceeds. Perry on Trusts, vol. 1, secs. 137 and 159, 5th ed.; Rhodes v. Green, 36 Ind. 11; Brice v. Roney, 18 111. 67; Tinsley v.…
1Opinion of the Court
OPINION OF THE COURT.
ABBOTT, J.
1 That there was bptweeen the Eagle Mining & Improvement Company and Humphrey B. Hamilton a parol agreement under which he purchased the property conveyed to him by the two deeds above named is not practically in dispute between the parties, and as to most of its details they do not differ. Hamilton was to have the property deeded to himself, he was to receive from the company '$15,000 for the purchase of it, and was to have and retain for himself the excess of that amount above what he might have to expend to obtain the property. He was, besides, to waive his…
2Cases cited6 opinions
- Gold-Mining Co. v. National BankSupreme Court of the United States · 1878
- Urann v. CoatesMassachusetts Supreme Judicial Court · 1872
- Bahnsen v. GilbertSupreme Court of Minnesota · 1893
- Anstice v. BrownNew York Court of Chancery · 1837
- Warner v. FooteSupreme Court of Minnesota · 1889
1 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Aragon v. Rio Costilla Cooperative Livestock Ass'nNew Mexico Supreme Court · 1991
- Ward v. BuchananNew Mexico Supreme Court · 1916
- McDermott v. SherNew Mexico Supreme Court · 1955
- Bunton v. CampredonNew Mexico Supreme Court · 1918
- Johnson v. Barnhill (In Re Antweil)United States Bankruptcy Court, D. New Mexico · 1993
2 more not listed; retrieve them via the Exa API.