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Trust (law) A trust is a legal relationship in which the owner of property (or any other transferable right) gives it to another person or entity, who must manage and use the property solely for the benefit of another designated person.
Wills, trustsand estates. United States trust law is the body of law that regulates the legal instrument for holding wealth known as a trust . Most of the law regulating the creation and administration of trusts in the United States is now statutory at the state level. In August 2004, the National Conference of Commissioners on Uniform State ...
In trust law, an express trust is a trust created "in express terms, and usually in writing, as distinguished from one inferred by the law from the conduct or dealings of the parties ." [ 1] Property is transferred by a person (called a trustor, settlor, or grantor) to a transferee (called the trustee ), who holds the property for the benefit ...
Delaware statutory trusts are formed as private governing agreements under which either (1) property (real, tangible and intangible) is held, managed, administered, invested and/or operated; or (2) business or professional activities for profit are carried on by one or more trustees for the benefit of the trustor entitled to a beneficial ...
A community land trust (CLT) is a private, nonprofit corporation that acquires, manages, and develops land for a variety of purposes, primarily for the production and stewardship of affordable housing, although many CLTs are also engaged in non-residential buildings and uses. A conservation land trust is a private, non-profit corporation in the ...
Private trustee. In the United States a private trustee is a position set up through a trust indenture. It is a private agreement, between the settlor of a trust and the trustee. [1] This makes both the trust and the trustee private. This arrangement differs from a bank trustee or a corporate trustee, both of which mainly focus on legalities ...
t. e. The Hague Convention on the Law Applicable to Trusts and on their Recognition, or Hague Trust Convention is a multilateral treaty developed by the Hague Conference on Private International Law on the Law Applicable to Trusts. It concluded on 1 July 1985, entered into force 1 January 1992, and is as of September 2017 ratified by 14 countries.
A purpose trust is a type of trust which has no beneficiaries, but instead exists for advancing some non- charitable purpose of some kind. In most jurisdictions, such trusts are not enforceable outside of certain limited and anomalous exceptions, but some countries have enacted legislation specifically to promote the use of non-charitable ...
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