Search results
Apr 8, 2024 · An account in trust or trust account refers to any type of financial account that is opened by an individual and managed by a designated trustee for the benefit of a third party per...
Jun 12, 2024 · A trustee is a person or firm that holds and administers property or assets for the benefit of a third party. A trustee may be appointed for various purposes, such as in the case of bankruptcy,...
• Legal owner of the property / assets held in a trust. • Hold property / assets on trust for beneficiaries. • Manages the trust and administers affairs of the trust in accordance with the wishes of the settlor as set out in the trust deed, such as deciding on how to invest or use the trust’s property / assets.
Learn the legal definition of held in trust and its significance for business owners. Discover how this concept allows for professional asset management, asset protection, and seamless wealth transfer.
Mar 16, 2024 · In a trust, a party known as a trustor gives another party, the trustee, the right to hold title to and manage property or assets for the benefit of a third party, the beneficiary. Trusts can...
In a trust, assets are held and managed by one person or people (the trustee) to benefit another person or people (the beneficiary). The person providing the assets is called the settlor. Different kinds of assets can be put in trust, including: cash. property.
Definition & Citations: A term used to describe property held by a person who is not the owner but who is a trustee or an agent. TLD Example: The parties to the contract agreed to have the down payment held in trust by the attorney for the seller until the transaction was completed.
Trust Companies Act . Bil. Note . Format. 1. Application to Register a Trust Company under the Trust Companies Act 1949. PDF. 2. Guidelines Of Registration Of Trust Company.
Held in trust means held as private moneys either within a separate account within the associated student body fund or in a trust fund to be disbursed exclusively for an intended purpose.
HOLD IN TRUST: CLIENT will hold in trust and safekeeping, as the property of RIVIERA, and immediately turn over to RIVIERA the identical check or other form of payment received by CLIENT, whenever any payment on an Account purchased by RIVIERA comes into CLIENT'S possession.
