express trust

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express trust

A lawyer explains the terms of an express trust to a client.

Definition

Noun: A legal arrangement where one party (the settlor or trustor) voluntarily and intentionally transfers property to another party (the trustee) to hold and manage for the benefit of a third party (the beneficiary), established through a clear, deliberate act, typically documented in writing.

Usage

This term is used in legal and financial contexts to describe a trust that is explicitly and purposefully created, as opposed to one that is implied by law or created by a court order. It emphasizes the conscious intent of the person creating the trust.

Examples
  • The wealthy philanthropist created an express trust to fund scholarships for underprivileged students.
  • The terms of the express trust were clearly outlined in the trust deed signed by all parties.
  • Because it was an express trust, the court upheld the settlor's written instructions regarding the distribution of assets.
Advanced Usage
  • "to declare an express trust": The formal act of establishing such a trust.
    • The donor declared an express trust over the shares for her grandchildren.
Variants and Related Words
  • Trust (n): The broader legal concept of holding property for another's benefit.
  • Express (adj): Clearly and directly stated, not implied.
  • Trust Deed / Trust Instrument (n): The written document that creates an express trust.
  • Settlor/Trustor (n): The person who creates the trust.
  • Trustee (n): The person or institution that holds and manages the trust property.
  • Beneficiary (n): The person who benefits from the trust.
Synonyms
  • Declared trust
  • Explicit trust
  • Intentional trust
Antonyms
  • Implied trust: A trust created by the operation of law based on the circumstances or conduct of the parties, not by explicit declaration.
  • Constructive trust: A trust imposed by a court as an equitable remedy, regardless of the parties' intent.
Related Phrases
  • "Creation of an express trust": The process of legally establishing this type of trust.
    • The creation of an express trust requires clear intention, specific property, and identifiable beneficiaries.
  • "Terms of the express trust": The specific rules and instructions governing the trust.
    • The trustee must act strictly according to the terms of the express trust.
express trust

A lawyer explains the terms of an express trust to a client.

Noun
  1. a trust created by the free and deliberate act of the parties involved (usually on the basis of written documentation)

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