Edgecombe Bank & Trust Co. v. Barrett

It is a well-established general principle of equity that property impressed with a trust may be followed through all changes in its state and form, so long as such property or its proceeds or its products are capable of identification. Edwards v. Culberson, 111 N.C. 342, 16 S.E. 233; Erickson v. Starling, 233 N.C. 539, 64 S.E. 2d 832; 54 Am. Jur., Trusts, Sec. 248; 65 C.J., p. 967 et seq.

Mr. Pomeroy amplifies tbe rule this way: “In general, whenever the legal title to property, real or personal, has been obtained through actual fraud, ... or under any other similar circumstances, which…