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.

Noun

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