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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.
Trust is the belief that another person will do what is expected. It brings with it a willingness for one party (the trustor) to become vulnerable to another party (the trustee ), on the presumption that the trustee will act in ways that benefit the trustor. [ 1][ 2][ 3] In addition, the trustor does not have control over the actions of the ...
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 ...
History of equity and trusts. The law of trusts was constructed as a part of "Equity", a body of principles that arose in the Courts of Chancery, which sought to correct the strictness of the common law. The trust was an addition to the law of property, in the situation where one person held legal title to property but the courts decided it was ...
A trust or corporate trust is a large grouping of business interests with significant market power, which may be embodied as a corporation or as a group of corporations that cooperate with one another in various ways. These ways can include constituting a trade association, owning stock in one another, constituting a corporate group (sometimes ...
Trust (law), a legal relationship in which one person holds property for another's benefit. Trust (business), the combination of several businesses under the same management to prevent competition. Investment trust, a form of investment fund.
Trustee. Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also be a person who is allowed to do certain tasks ...
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 ...