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Simple English definitions for legal terms

abstract of trust

Read a random definition: Convention for the European Patent for the Common Market

A quick definition of abstract of trust:

Abstract of trust: A short version of a trust document that keeps some details private, like the names of the people who will benefit from the trust. It's used to prove that the trust exists without sharing all the important information. It's also called a certificate of trust, certification of trust, or memorandum of trust.

A more thorough explanation:

Definition: An abstract of trust is a shortened version of a trust document that omits certain details, such as the names of beneficiaries, to keep them confidential. It is commonly used to prove the existence of a trust to financial institutions or other organizations without revealing key terms. This abbreviated version of the trust is widely accepted as long as it meets specific requirements. It is also known as a certificate of trust, certification of trust, or memorandum of trust.

For example, if John creates a trust and wants to keep the names of his beneficiaries private, he can provide an abstract of trust to his bank to show that the trust exists and that he has the authority to act on its behalf. The abstract of trust would include the name of the trust, the date it was created, and the name of the trustee, but it would not include the names of the beneficiaries.

Another example is if a trustee needs to sell a property owned by the trust. The buyer's attorney may request an abstract of trust to verify that the trustee has the authority to sell the property on behalf of the trust.

These examples illustrate how an abstract of trust can be used to provide proof of a trust's existence without revealing confidential information.

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22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
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