express trust

express trust
express trust express trust trust

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express trust UK US noun [C]
LAW a trust (= legal arrangement in which a person or organization controls another's assets) whose conditions are stated by the person making it, rather than being agreed by a legal process in a court: »

An express trust is created by a settlor (the person setting up the trust) giving explicit instructions as to how his or her property is to be held.

Compare CONSTRUCTIVE TRUST(Cf. ↑constructive trust), IMPLIED TRUST(Cf. ↑implied trust)

Financial and business terms. 2012.

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Look at other dictionaries:

  • express trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Express trust — Where property is passed to a person but no gift is made, it is held for the owner, this is the Resulting trust; where property should for some reason of public policy or fairness or rule of Equity be held for someone other than the legal owner,… …   Wikipedia

  • express trust — noun a trust created by the free and deliberate act of the parties involved (usually on the basis of written documentation) • Syn: ↑direct trust • Hypernyms: ↑trust * * * noun Etymology: express (I) : a trust created dire …   Useful english dictionary

  • express trust — A trust which arises out of a direct or positive declaration of trust. A trust that comes into existence by the execution of an intention to create it by the person having legal and equitable dominion over the property made subject to it. 54 Am… …   Ballentine's law dictionary

  • trust — n 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… …   Law dictionary

  • Trust law in England and Wales — is the original and foundational law of trusts in the world, and a unique contribution of English law to the legal system. Trusts are part of the law of property, and arise where one person (a settlor ) gives assets (e.g. some land) to another… …   Wikipedia

  • express — ex·press 1 adj: directly and distinctly stated or expressed rather than implied or left to inference compare implied express 2 vt: to make known (one s thoughts, ideas, or opinions) by words, conduct, or symbols see also expression M …   Law dictionary

  • trustee of express trust — A trustee duly appointed or designated, as distinguished from a trustee de son tort or a trustee under a constructive trust. The term includes a person with whom, or in whose name, a contract is made for the benefit of another. Muncie Natural Gas …   Ballentine's law dictionary

  • trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

  • Trust law — In common law legal systems, a trust is an arrangement whereby property (including real, tangible and intangible) is managed by one person (or persons, or organizations) for the benefit of another. A trust is created by a settlor, who entrusts… …   Wikipedia

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