Massachusetts Trust

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Massachusetts Trust

A business arrangement that is used in place of a corporation or partnership in which trustees hold title to property for the advantage of beneficiaries for investment purposes.

A Massachusetts trust is another name for a common-law trust or a Business Trust, which offers its beneficiaries limited financial liability in transactions in which it engages.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

Massachusetts Trust

n. a business in which the investors give management authority to a trustee, and receive "trust certificates" representing their investments. Since they own only the certificates and do not participate in management, the investors can only lose their investment and are not personally liable for any debts of the trust. This is similar to a "limited partnership." A Massachusetts Trust is strictly a business entity and bears no relationship to a personal trust like living and testamentary trusts set up to manage and protect the assets of individuals and provide for eventual distribution.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
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Worcester Restaurant Associates is owned by the Kirby Family Trust, a Massachusetts trust that lists the owners as Dr.
MacDonnell, left, director, Massachusetts Trust for Public Land, talks with Roger Leo, president of the Princeton Land Trust.

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