Varellas v. Varellas

Head, Presiding Justice.

1. Where land is bought by a member of a partnership with money belonging to the firm, and the legal title thereto is placed in the name of only one member, an implied trust arises in favor of the other partners, who become equitable owners, and tenants in common, of such land. Code § 108-106; Cottle v. Harrold, Johnson & Co., 72 Ga. 830 (3); Roach v. Roach, 143 Ga. 486 (85 SE 703); Purvis v. Johnson, 163 Ga. 698 (4) (137 SE 50).

2. A petition seeking to establish an implied trust will fail where all the allegations are based solely upon an oral agreement setting up an…