STATUTE OF FRAUDS-EXTINGUISHMENT OF BENEFICIAL INTEREST IN CONSTRUCTIVE TRUST IN LAND

In order to increase borrowing capacity the husband conveyed several parcels of land to his wife so as to establish a separate credit for her; parol evidence indicated that the conveyance was for the use of the husband. Subsequently their relations became estranged, and the husband attempted a parol surrender of the parcels to his wife. The New Jersey Statute of Frauds is the counterpart of the English Statute requiring the creation of an express trust to be manifested and proved by writing but excluding from the requirement of writing creations, transfers, or extinguishments by operation of law. In a suit by the husband to recover the land, held, a constructive trust was created by parol, but the beneficial interest could not be released, and the husband recovered. Moses v. Moses, (N.J. Eq. 1947) 53 A. (2d) 805