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 ?
Not surprisingly this type of ownership is used by business partners and should be used by livingtogether partners, backed up by a cohabitation agreement or a declaration of trust in case the relationship were to break down.
The declaration of trust and the certificates, including any non-contractual obligations arising out of or in connection with, the declaration of trust and the certificates, will be governed by, and construed in accordance with, English law.
The purchase agreement and underlying sale agreements for each undertaking will be governed by the laws of Saudi Arabia, whereas the following will be subject to the jurisdiction of the English courts: the agency agreement, the declaration of trust, the ijarah agreement, the substitution undertaking, the purchase undertaking, the sale undertaking and the servicing agency agreement.
A CIF is created by a declaration of trust, with each investing retirement plan holding a proportionate interest in the underlying assets.
Morey, Jr., executed a self-settled declaration of trust on January 19, 2000, which provided that the trustees were to pay all expenses of Mr.
In a statement to journalists after the meeting, al-Mahayri said that calling for dialogue is a declaration of trust and faith in the people, while the Party's Deputy Secretary General Joseph Sweid said that national dialogue circumvents foreign interference and serves higher national interests.
established under a Declaration of Trust, dated October 16, 2012, which
"It is important, however, to take good legal advice and draw up a deed or declaration of trust."
Homburg Canada Real Estate Investment Trust is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Quebec.
The Trust said it may retain some or all of its settlement proceeds for funding its operations, including expenses incurred to maintain and administer the Trust and prosecute Trust litigation, subject to the terms and conditions of the Plan and the Declaration of Trust.
Here is what the actual will said: "I give my entire estate to the Trustee or Trustees then acting under that certain Amended and Restated Declaration of Trust executed on March 22, 2002 by me as Trustee and Trustor which is called the MICHAEL JACKSON FAMILY TRUST giving effect to any amendments thereto made prior to my death.
The notice was issued pursuant to certain clauses of the declaration of trust and agency, signed on May 15, 2007 between Golden Belt 1 Sukuk Company, in its capacity as issuer and trustee, Citicorp Trustee Company Limited, the trustee, and Saad Trading, Contracting and Financial Services Company (Saad), the Golden Belt 1 Sukuk Company said.

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