25Vesting orders arising from resulting trusts

25 Vesting orders arising from resulting trusts

(1)  Where the Supreme Court has refused to reform a disposition under section 24 , the Supreme Court may, if satisfied that the person who made the disposition, or his or her personal representative, has become entitled under a resulting trust, make an order vesting the property comprised in the disposition absolutely in that person or, if that person has died, in his or her personal representative on the trusts of the estate of the deceased person.

(2)  In the case of a disposition referred to in subsection (1) , where a person other than a donor of property that was given to the trustee on trust, has sold other property to the trustee, or has assisted the trustee, by loan, guarantee or otherwise, to acquire other property –

(a) the power of the Supreme Court to make a vesting order under that subsection is restricted to so much of the property comprised in the disposition as was given by that donor or fairly attributable to the donor's gift; and

(b) the Court may make such order as it considers just and equitable regarding the remainder of the property comprised in the disposition.

(3)  An application for a vesting order under this section in respect of property comprised in a disposition may be made by –

(a) a trustee of that property; or

(b) a vendor of that property to that trustee or the personal representative of any such vendor; or

(c) a person who assisted that trustee, by loan, guarantee or otherwise, to acquire that property or the personal representative of that person.