Trust

A trust is an agreement between a trustee and a trustor (also called a settlor, a grantor or a donor).

The trust property consists of the assets which the trustee manages in their own name on behalf of beneficiaries chosen by the trustor.

The trustee is obligated to manage and use the trust property in the best interests of the beneficiaries.

See also:
Revocable trust
Irrevocable trust
Fee tail

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