Trust Property definition: Copy, customize, and use instantly
Introduction
The term "Trust Property" refers to the assets or property held within a trust, which the trustee manages for the benefit of the beneficiaries according to the terms set out in the trust agreement. The definition of "Trust Property" can vary depending on the type of trust and the nature of the assets involved.
Below are various examples of how "Trust Property" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Trust Property" for real estate
This definition ties "Trust Property" to real estate assets held in a trust for the benefit of the beneficiaries.
"Trust Property" means the real estate assets held in the trust, including land, buildings, and any other immovable property, which the trustee holds and manages according to the trust terms.
Definition of "Trust Property" for financial assets
This definition connects "Trust Property" to financial assets like stocks, bonds, and bank accounts held in a trust.
"Trust Property" refers to the financial assets held in the trust, including stocks, bonds, cash, and bank accounts, which are managed by the trustee in accordance with the trust agreement.
Definition of "Trust Property" for intellectual property
This definition links "Trust Property" to intangible assets like patents, trademarks, and copyrights held in trust.
"Trust Property" means the intellectual property rights held in the trust, including patents, trademarks, copyrights, and any associated rights or licenses that are managed for the benefit of the beneficiaries.
Definition of "Trust Property" for personal property
This definition ties "Trust Property" to tangible personal property, such as jewelry, furniture, and vehicles, held within a trust.
"Trust Property" refers to the personal property, including tangible assets like jewelry, artwork, furniture, and vehicles, that the trustee holds and manages for the beneficiaries of the trust.
Definition of "Trust Property" for trust funds
This definition connects "Trust Property" to trust funds, including both principal and accumulated income.
"Trust Property" means the trust funds held by the trustee, including both the principal amount and any income or earnings generated from the trust property, which are managed according to the terms of the trust.
Definition of "Trust Property" for a family trust
This definition ties "Trust Property" to the assets held in a family trust, often for the benefit of family members.
"Trust Property" refers to the assets, including real estate, financial accounts, and personal property, held within a family trust, which are managed by the trustee for the benefit of the family members as specified in the trust agreement.
Definition of "Trust Property" for charitable trusts
This definition links "Trust Property" to the assets held in a charitable trust, which are used for charitable purposes.
"Trust Property" means the assets held within a charitable trust, including cash, securities, real estate, and other property, which the trustee manages for the benefit of charitable organizations or causes.
Definition of "Trust Property" for spendthrift trusts
This definition connects "Trust Property" to a spendthrift trust, where the property is protected from creditors and cannot be accessed by beneficiaries for debt payments.
"Trust Property" refers to the assets held in a spendthrift trust, including all real and personal property, which are protected from the beneficiaries’ creditors and are only accessible under the terms set forth in the trust.
Definition of "Trust Property" for an irrevocable trust
This definition ties "Trust Property" to an irrevocable trust, where the assets are transferred to the trust and cannot be withdrawn or altered by the grantor.
"Trust Property" means the assets transferred to the irrevocable trust, including real property, financial assets, and personal property, which are no longer accessible to the grantor but are managed by the trustee according to the trust agreement.
Definition of "Trust Property" for a living trust
This definition connects "Trust Property" to a living trust, where the grantor maintains control over the assets during their lifetime but transfers ownership to the trust after their death.
"Trust Property" refers to the assets placed into a living trust, which may include real estate, bank accounts, and investments, and are managed by the trustee during the grantor's lifetime and passed to beneficiaries upon the grantor's death.
Definition of "Trust Property" for a testamentary trust
This definition ties "Trust Property" to a testamentary trust, which is established through a will and comes into effect upon the death of the testator.
"Trust Property" means the assets bequeathed through a testamentary trust, including real property, financial accounts, and personal belongings, which are held and distributed by the trustee according to the terms of the will.
Definition of "Trust Property" for pension trust assets
This definition links "Trust Property" to the assets held within a pension trust, including retirement funds and investments.
"Trust Property" refers to the pension assets held in trust for employees' retirement benefits, including retirement funds, stocks, bonds, and any other investments, managed by the trustee in accordance with pension laws and regulations.
Definition of "Trust Property" for a land trust
This definition connects "Trust Property" to a land trust, where real estate is held by a trustee for the benefit of the beneficiary.
"Trust Property" means the real estate held within a land trust, where the trustee holds the title to the property and manages the land according to the instructions of the trust, for the benefit of the beneficiaries.
Definition of "Trust Property" for a trust with business assets
This definition ties "Trust Property" to business assets held in a trust, such as shares in a company or other business-related property.
"Trust Property" refers to the business assets, including shares in a company, business interests, and related property, held within a trust and managed by the trustee in accordance with the trust’s terms.
Definition of "Trust Property" for estate planning trusts
This definition links "Trust Property" to estate planning trusts, which are created to manage and distribute assets according to the wishes of the deceased.
"Trust Property" means the assets, including real estate, financial accounts, and business interests, placed in an estate planning trust, which are managed by the trustee and distributed to beneficiaries after the grantor’s death.
Definition of "Trust Property" for asset protection trusts
This definition connects "Trust Property" to asset protection trusts, which are designed to protect assets from creditors.
"Trust Property" refers to the assets placed in an asset protection trust, including real estate, investments, and personal property, which are shielded from creditors and managed according to the trust agreement.
Definition of "Trust Property" for a revocable trust
This definition ties "Trust Property" to a revocable trust, where the grantor can alter or revoke the trust and retain control over the assets during their lifetime.
"Trust Property" means the assets held in a revocable trust, including real estate, financial instruments, and personal property, which the grantor can change or revoke at any time during their lifetime.
Definition of "Trust Property" for an irrevocable life insurance trust
This definition connects "Trust Property" to an irrevocable life insurance trust, where the life insurance policy is placed in the trust and the death benefit is used for the beneficiaries.
"Trust Property" refers to the life insurance policy held in an irrevocable life insurance trust, including the death benefit and any accumulated cash value, which is used to benefit the named beneficiaries.
Definition of "Trust Property" for assets subject to a trust’s terms
This definition ties "Trust Property" to assets that are clearly specified as being subject to the provisions of a trust.
"Trust Property" means all assets designated as trust property, which are held and managed by the trustee in accordance with the specific terms and conditions of the trust.
Definition of "Trust Property" for retirement accounts
This definition links "Trust Property" to retirement accounts, such as IRAs or 401(k) plans, held in trust for beneficiaries.
"Trust Property" refers to retirement accounts, including IRAs, 401(k)s, and other retirement funds, that are held in trust and managed by the trustee for the benefit of the trust’s beneficiaries.
Definition of "Trust Property" for a unit trust
This definition connects "Trust Property" to a unit trust, where investors hold units in a trust that owns various assets.
"Trust Property" means the assets held within a unit trust, including a diversified portfolio of securities and other investments, which are managed by the trustee on behalf of unit holders.
Definition of "Trust Property" for trust assets held in a segregated account
This definition ties "Trust Property" to assets held in a segregated account, separate from the trustee’s personal assets.
"Trust Property" refers to assets held in a segregated account, which are distinct from the trustee’s personal assets and are managed exclusively for the benefit of the trust’s beneficiaries.
Definition of "Trust Property" for real property in a trust
This definition connects "Trust Property" to real property held in trust, typically land or buildings used for residential or commercial purposes.
"Trust Property" means the real property held within the trust, including land, residential, and commercial buildings, which the trustee manages on behalf of the beneficiaries.
Definition of "Trust Property" for tangible and intangible assets
This definition ties "Trust Property" to both tangible and intangible assets held within a trust.
"Trust Property" refers to both tangible and intangible assets, including real estate, personal property, intellectual property, and financial assets, held in trust and managed for the benefit of the beneficiaries.
Definition of "Trust Property" for a trust holding business interests
This definition links "Trust Property" to assets tied to business interests, including shares, partnerships, and ownership stakes.
"Trust Property" means the business interests, including shares in a company, partnership stakes, and other ownership rights, held in trust for the benefit of the beneficiaries.
Definition of "Trust Property" for trust assets in a blended family trust
This definition connects "Trust Property" to assets held in a trust that benefits a blended family, involving children from previous marriages or relationships.
"Trust Property" refers to the assets held in a blended family trust, which may include real estate, financial investments, and personal property, managed by the trustee for the benefit of the family members specified in the trust.
Definition of "Trust Property" for an investment trust
This definition ties "Trust Property" to an investment trust, where assets are pooled and managed for collective benefit.
"Trust Property" means the pooled investment assets held in an investment trust, including securities, bonds, and other financial instruments, managed by the trustee on behalf of the beneficiaries.
Definition of "Trust Property" for oil and gas rights in trust
This definition links "Trust Property" to oil and gas rights held within a trust, typically as part of natural resource management.
"Trust Property" refers to the oil and gas rights held within the trust, including mineral rights, royalties, and related interests, which are managed by the trustee for the benefit of the trust’s beneficiaries.
Definition of "Trust Property" for a special needs trust
This definition connects "Trust Property" to assets in a special needs trust, which is designed to provide for the care and well-being of a beneficiary with special needs.
"Trust Property" means the assets held in a special needs trust, including financial accounts, real estate, and personal property, which are managed to ensure the beneficiary’s long-term care without affecting eligibility for public assistance.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.