Declaration of Trust

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Declaration of Trust

An assertion by a property owner that he or she holds the property or estate for the benefit of another person, or for particular designated objectives.

The term also signifies the deed or other instrument that contains the statement—which may be either written or oral, depending upon the applicable state law.

declaration of trust

n. the document signed by a trustor (settlor) creating a trust into which assets are placed, a trustee is appointed to manage the trust (who may be the party who created the trust), the powers and duties of management of the principal and profits of the trust are stated, and distribution of profits and principal is spelled out. (See: trust, trustee, trustor, settlor)

DECLARATION OF TRUST. The act by which an individual acknowledges that a property, the title of which he holds, does in fact belong to another, for whose use he holds the same. The instrument in which the acknowledgment is made, is also called a declaration of trust; but such a declaration is not always in writing, though it is highly proper it should be so. Will. on Trust, 49, note y; Sudg. on Pow. 200. See Merl. Rep. Declaration au profit d'un tiers.

References in periodicals archive ?
A declaration of trust is a document which sets out the shares that each owner has in the property.
Ultimately, therefore, a declaration of trust, or second charge, while advisable, may not be possible.
Having a clear Declaration of Trust would serve to prevent costly disputes in any subsequent divorce as to whether such funds are intended to be a gift.
Armed with these tools, you can create a valid Declaration of Trust yourself.
The declaration of trust is the primary source of governance provisions for the trust.
Mr Guterman was a director of the club at the time of the critical transaction, in July 2002, when a declaration of trust was signed transferring the stadium's freehold to Crucialmove.
The Rasmuson Foundation was created under a declaration of trust in May of 1955 by Jenny Rasmuson to honor her late husband, E.
2] The distinction between a declaration of trust and a transfer to trust has not been overlooked by Florida courts.
Lewin, that the Board of Trustees has reduced the number of Trustees from eight to seven, in accordance with the Fund's Declaration of Trust, as amended.
WHEN buying a property jointly, whether as your home or as an investment, all parties need to form a Declaration of Trust, also known as a Trust Deed.
In order to avoid disagreements, Mr Khatib advises unmarried couples to enter into a declaration of trust.
A description of the 8% Series C Cumulative Redeemable Preferred Shares, is available in the Amended and Restated Declaration of Trust of Innkeepers USA Trust and the Articles Supplementary to the Declaration of Trust.

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