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Simple English definitions for legal terms

Unincorporated business organization (UBO)

Read a random definition: lex commercii

A quick definition of Unincorporated business organization (UBO):

An unincorporated business organization (UBO) is a type of business arrangement where an investor creates a trust and gives management rights to a trustee. The trustee holds the property for the benefit of the beneficiaries, who are the investors. The investor has limited liability for their investment, which means they are only responsible for the property they put into the trust. This is similar to a limited partnership. UBOs are also known as Massachusetts trusts, common law trusts, or business trusts.

A more thorough explanation:

An unincorporated business organization (UBO) is a type of business arrangement that is used instead of a company or partnership. In this arrangement, the investor (also known as the settlor) creates a trust and gives the management rights to a trustee. The trustee holds the property for the benefit of the beneficiaries, who are the investors. The purpose of the trust is for investment purposes, and the investor has limited liability for their investment only.

For example, let's say that John wants to invest in a real estate property. Instead of forming a company or partnership, he creates a trust and appoints a trustee to manage the property. John is the settlor and the beneficiary of the trust, and he has limited liability for his investment in the property.

Another example is a group of investors who want to invest in a startup company. Instead of forming a company, they create a trust and appoint a trustee to manage the investment. The investors are the beneficiaries of the trust, and they have limited liability for their investment in the startup.

Overall, an unincorporated business organization (UBO) is a flexible and efficient way for investors to pool their resources and invest in a business or property without forming a company or partnership.

Unincorporated | uninsured motorist clause

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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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