Section 55-4-18 - Unenforceable oral trust created by deed--Liability of trustee to settlor for transfer of real property

55-4-18. Unenforceable oral trust created by deed--Liability of trustee to settlor for transfer of real property.Where the intended trustee has transferred part or all of his interest and it has come into the hands of a bona fide purchaser, the intended trustee shall be liable to the settlor or his successor in interest for the value of the interest thus transferred at the time of its transfer, less such offsets as the court may deem equitable. Source: SL 1943, ch 308, §16; SDC Supp 1960, §59.0516 (2).