Title Insurance & Trust Co. v McGraw

Holding

The court held that a grant deed, when executed concurrently with a written agreement obligating the grantee to pay all income and eventual sale proceeds to the grantor, created an express trust in which the grantee held mere legal title as trustee, and that the grantor's subsequent rescission and revocation of that trust was valid, thereby revesting full equitable and legal title in the grantor, subject only to a lien in favor of the grantee for the reasonable value of necessary improvements made to the trust property.