Trust

Definition - Noun
1 a  : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property
b  : an entity resulting from the establishment of such a relationship
see also beneficiary cestui que trust corpus declaration of trust at declaration principal settlor
Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment.



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Based on Merriam-Webster's Dictionary of Law ©2001.
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intrinsic fraud

fraud (as by the use of false or forged documents, false claims, or perjured testimony) that deceives the trier of fact and results in a judgment in favor of the party perpetrating the fraud


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