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Simple English definitions for legal terms

Self-declared trust

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A quick definition of Self-declared trust:

A self-declared trust is when someone says that they own something, but they are really holding it for someone else. It's like if you were holding a toy for your friend and you said, "This toy is mine, but I'm keeping it safe for my friend." The person who owns the toy is your friend, but you are taking care of it for them. In the same way, someone can say they own something, but really they are taking care of it for someone else.

A more thorough explanation:

Self-declared trust

A self-declared trust is when someone who owns something declares that they now own it for someone else's benefit.

Example 1: John owns a house and declares that he now owns it for the benefit of his daughter, Sarah.

Example 2: Mary owns a car and declares that she now owns it for the benefit of her friend, Tom.

In both examples, the individuals who own the property declare that they now own it for someone else's benefit. This means that although they legally own the property, they are holding it in trust for someone else. This is known as a self-declared trust.

self-dealing | Self-defense

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
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
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