- A dry trust; a passive trust. A trust in which the trustee has no duties to perform, the cestui que trust having the entire management of the estate. A trust of such nature that if the trustee does what he is directed to do, the result will be the same as if the trust were executed into a legal estate. 54 Am J1st Trusts § 13.
Ballentine's law dictionary. Anderson, W.S.. 1998.
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nominal — Titular; existing in name only; not real or substantial; connected with the transaction or proceeding in name only, not in interest. Park Amusement Co. v. McCaughn, D.C.Pa., 14 F.2d 553, 556. Not real or actual; merely named, stated, or given,… … Black'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 — ► NOUN 1) firm belief in the reliability, truth, ability, or strength of someone or something. 2) acceptance of the truth of a statement without evidence or investigation. 3) the state of being responsible for someone or something. 4) Law an… … English terms dictionary
Trust instrument — A trust instrument (also sometimes called a deed of trust, where executed by way of deed) is an instrument in writing executed by a settlor used to constitute a trust. Trust instruments are generally only used in relation to an inter vivos trust; … Wikipedia
trust — n. & v. n. 1 a a firm belief in the reliability or truth or strength etc. of a person or thing. b the state of being relied on. 2 a confident expectation. 3 a a thing or person committed to one s care. b the resulting obligation or responsibility … Useful english dictionary
trust — noun 1》 firm belief in someone or something. ↘acceptance of the truth of a statement without evidence or investigation. 2》 the state of being responsible for someone or something: a man in a position of trust. 3》 Law an arrangement whereby a… … English new terms dictionary
Girls' Day School Trust — The Girls Day School Trust (GDST) is a group of 29 independent schools in England and Wales, catering for pupils aged 3 to 18. It is the largest group of independent schools in the UK, and educates 20,000 students each year. [ cite web last =… … Wikipedia
Interest on Lawyer Trust Accounts — (IOLTA) is a type of program in which interest earned from money held in a lawyer trust accounts is aggregated and required to paid to another state agency, subsidizing legal services for those who cannot afford them.HistoryThe practice is that a … Wikipedia
Constructive trust — Wills, trusts and estates … Wikipedia
Child Trust Fund — A Child Trust Fund (CTF) is a long term savings or investment account for children in the United Kingdom. New accounts cannot be created but existing accounts can receive new money. They have been replaced by Junior ISAs. The UK Government… … Wikipedia