Trust definition: obligation annexed to ownership imposing trustee duties to hold property for beneficiaries' benefit. A trust is an obligation annexed to ownership whereby an owner who reposes or declares confidence accepts that another (the trustee) will hold ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Trust definition: obligation annexed to ownership imposing trustee duties to hold property for beneficiaries' benefit.
A trust is an obligation annexed to ownership whereby an owner who reposes or declares confidence accepts that another (the trustee) will hold trust-property for the benefit of a beneficiary; the beneficiary's right against the trustee is the beneficial interest, and the instrument by which the trust is declared is the instrument of trust; failure of a trustee to perform duties imposed by law is a breach of trust, while registration and notice are defined by prevailing registration law and standards of actual or constructive knowledge.
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