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Simple English definitions for legal terms

UBO

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A quick definition of UBO:

Term: UBO

Definition: UBO stands for unincorporated business organization. It is a way for people to invest in a business without forming a company or partnership. Instead, the investor creates a trust and gives control to a trustee who manages the property for the benefit of the beneficiaries. The investor has limited liability for their investment, similar to a limited partnership. UBO is also known as a Massachusetts trust, common law trust, or business trust.

A more thorough explanation:

UBO stands for unincorporated business organization. It is a type of business arrangement that is used instead of a company or partnership. In this arrangement, the investor acts as the settlor of the trust and gives the management rights to the trustee. The trustee holds the title to the property for the benefit of the beneficiaries for investment purposes. The investor/settlor has limited liability for their investment (trust property) only, which is similar to a limited partnership.

For example, let's say that John wants to invest in a real estate property. Instead of forming a company or partnership, he decides to create a UBO. John acts as the settlor of the trust and gives the management rights to the trustee. The trustee holds the title to the property for the benefit of the beneficiaries, which could be John and other investors. John has limited liability for his investment in the property, which means that he is only responsible for the amount of money he invested in the UBO.

UBOs are also known as Massachusetts trusts, common law trusts, or business trusts.

U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act of 2007 | UCC

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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.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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