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Declaration of trust

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.

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.



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If you bought your house using the standard pre-1998 transfer deed without any express declaration of trust there will still be a presumption of equality.
If no declaration of trust has been made, then the share in the property will depend on the cohabitants' ability to establish ownership, based normally on either a financial contribution or a firm agreement between the couple, such as a cohabitation agreement.
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.
 
 
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