active trust
A trust which maintains the legal estate in the trustee, to enable him to perform the duties devolved on him by the donor, and gives the cestui que trust only a right in equity to enforce the per- formance of the trust. 54 Am J1st Trusts § 13. A trust in which active duties are to be performed by the trustee with reference to the administration of the trust property, and in which the primary use of the property is to be expressly or impliedly, by reason of such active duty, vested in the trustee. Holmes v Walter, 118 Wis 409, 95 NW 380.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

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

  • active trust — UK US noun [C] LAW, FINANCE ► a trust (= arrangement of legal control over someone s money or property) where the trustee (= person who has this control) has other particular duties, such as investing money, or passing on profits, rents, etc.… …   Financial and business terms

  • Active Trust — A trust where the trustee is held accountable for additional responsibilities. With an active trust, those additional responsibilities can be in respect to the control or management of the trust, collection of rent, profits, and sale proceeds; in …   Investment dictionary

  • active trust — noun a trust in which the trustee must perform certain duties • Ant: ↑passive trust • Hypernyms: ↑trust * * * noun : a trust in which the trustee is charged with the performance of some substantial duties in respect to the control, management,… …   Useful english 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

  • active trustee — ➔ trustee * * * active trust UK US noun [C] LAW, FINANCE ► a trust (= arrangement of legal control over someone s money or property) where the trustee (= person who has this control) has other particular duties, such as investing money, or… …   Financial and business terms

  • active — ac·tive adj 1: characterized or accomplished by action or effort active concealment compare passive 2: engaged or participating in action or activity paying child support but not otherwise an active parent …   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 — A fiduciary relationship calling for a trustee to hold the title to assets for the benefit of the beneficiary. The person creating the trust, who may or may not also be the beneficiary, is called the grantor. Bloomberg Financial Dictionary See… …   Financial and business terms

  • active — That is in action; that demands action; actually subsisting; the opposite of passive. An active debt is one which draws interest. An active trust is a confidence connected with a duty. An active use is a present legal estate …   Black's law dictionary

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