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Simple English definitions for legal terms

fide-committee

Read a random definition: Stambovsky v. Ackley

A quick definition of fide-committee:

A fide-committee is someone who benefits from a trust, also known as a cestui que trust. This term comes from the Roman law, where the beneficiary was called fideicommissarius. In English, it means someone who is committed to the good faith of another.

A more thorough explanation:

A fide-committee is a beneficiary of a trust, also known as a cestui que trust.

When someone creates a trust, they are known as the settlor. The settlor transfers assets to a trustee, who manages the assets for the benefit of a beneficiary. The beneficiary is the person who receives the benefits of the trust, such as income or property. In legal terms, the beneficiary is called a cestui que trust. Another term for a cestui que trust is fide-committee.

  • John created a trust for his daughter, Sarah. Sarah is the beneficiary of the trust and is also known as the fide-committee.
  • When the settlor dies, the trustee distributes the assets to the fide-committee according to the terms of the trust.

These examples illustrate how a fide-committee is a beneficiary of a trust. In the first example, Sarah is the beneficiary of the trust created by her father, John. In the second example, the fide-committee receives the assets from the trustee after the settlor's death.

fictitious seisin | fideicomiso

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JumpySubsequentDolphin
20:50
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