Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

trust ownership

Read a random definition: executione facienda in withernamium

A quick definition of trust ownership:

Trust ownership refers to the legal concept of a trust, which is a way of holding property for the benefit of someone else. When someone creates a trust, they transfer ownership of their property to a trustee, who manages it for the benefit of the trust's beneficiaries. Trust ownership can be used for many purposes, such as estate planning, asset protection, and charitable giving.

A trust receipt is a type of financing arrangement used in commercial transactions. It involves a lender or financier taking ownership of goods and then delivering them to a dealer or buyer on behalf of the lender. The dealer or buyer then takes possession of the goods and uses them to generate revenue. Once the lender's loan has been repaid, ownership of the goods is transferred to the dealer or buyer.

A more thorough explanation:

Trust ownership refers to the legal concept of holding property or assets in a trust, where the trustee manages the property for the benefit of the beneficiaries. This means that the trustee has legal ownership of the property, but is obligated to act in the best interests of the beneficiaries.

A trust receipt is a type of security device used in commercial transactions. It involves a receipt stating that the buyer has possession of the goods for the benefit of the financier. This allows the financier to have some control over the goods until the buyer has paid for them. For example, a car dealership may use a trust receipt to finance the purchase of a fleet of cars.

Another example of trust ownership is when a parent sets up a trust for their child's education. The parent may be the trustee, but the child is the beneficiary. The parent has legal ownership of the funds in the trust, but is obligated to use them for the child's education.

trust officer | trust relationship

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
LSD+ is ad-free, with DMs, discounts, case briefs & more.