Statutes > District of Columbia Statutes > Division VII - Property (TITLE 40 to TITLE 42) > TITLE 42 - REAL PROPERTY (SUBTITLE I to SUBTITLE VIII) > SUBTITLE I - GENERAL (Chapter 1 to Chapter 16) > Chapter 15 - Uses and Trusts (Section 42-1501 to Section 42-1503) > Section 42-1503 - Effect of purchase for value without notice of trust; where express trust not declared in conveyance

Section 42-1503 - Effect of purchase for value without notice of trust; where express trust not declared in conveyance

Effect of purchase for value without notice of trust; where express trust not declared in conveyance

No implied or resulting trust shall be alleged or established to defeat or prejudice the title of a purchaser for a valuable consideration and without notice of such trust; and where an express trust is created, but is not contained or declared in the conveyance to the trustee, such conveyance shall be deemed absolute in favor of purchasers from the trustee for value and without notice of the trust.

CREDIT(S)

(Mar. 3, 1901, 31 Stat. 1432, ch. 854, § 1618.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications
1981 Ed., § 45-1103.
1973 Ed., § 45-1203.

Current through September 13, 2012