TRUSTS-STATUTE OF FRAUDS-ORAL TRUST OF LAND AND PROCEEDS

A conveyance was made of real property impressed with an oral trust unenforceable because of the statute of frauds requiring trusts of interests in land to be in writing. The land was later sold and the plaintiff as beneficiary of the parol trust sought to reach the proceeds of the sale. Held, the statute of frauds does not apply to personal property. Therefore the oral trust may be impressed upon the proceeds even though it could not have been enforced while the trust res remained realty.

Simpson v. Clark, (Mass. 1944) 55 N.E. (2d) 10.