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Bare trust
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Bare trustA trust that has become passive for the trustee because all the duties the settlor may have imposed upon the trustee have been performed or any conditions or terms have come to fruition, such as there is no longer any impediment to the transfer of the property to the beneficiary.
RELATED TERMS--------------------------------------
Trust
Contracts, devises. An equitable right, title or interest in property, real or personal, distinct from its legal ownership; or it is a personal obligation for paying, delivering or performing anything, where the person trusting has no real. right or security, for by, that act he confides altogether to the faithfulness of those intrusted. This is its most general meaning, and includes deposits, bailments, and the like. In its more technical sense, it may be defined to be an obligation upon a person, arising out of a confidence reposed in him, to apply property faithfully, and according to such confidence.
Passive
Common law. All the sums of which one is a debtor. It is used in contradistinction to active. . By active debts are understood those which may be employed in furnishing assets to a merchant to pay those which he owes, which are called passive debts.
Trustee
Estates. A trustee is one to whom an estate has been conveyed in trust.
Duties
In its most enlarged sense, this word is nearly equivalent to taxes, embracing all impositions or charges levied on persons or things; in its more restrained sense, it is often used as equivalent to customs or imposts.
Settlor
The person who sets up a trust. Also referred to as "grantor."
Transfer
Contracts The act by which the owner of a thing delivers it to another person, with the intent of passing the rights which he has in it to the latter.
Property
Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.
Beneficiary
A broad definition for any person or entity who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution.
SIMILAR TERMS--------------------------------------
Barely legal
An adult entertainment concept not related to the legal profession.
Barely legal girl
A concept from the adult entertainment industry, nothing to do with legal matters.
Barely legal teen
An adult entertainment concept not related to the legal profession.
PREVIOUS AND NEXT TERMS--------------------------------------
Bannitus
One outlawed or banished.
Bans of matrimony
The giving public notice or making proclamation of a matrimonial contract, and the intended celebration of the marriage of the parties in pursuance of such contract, to the end that persons objecting to the same, may have an opportunity to declare such objections before the marriage is solemnized.
Bar examination
A state examination taken by prospective lawyers in order to be admitted and licensed to practice law.
Bar fee
English law. A fee taken time out of mind by the sheriff for every prisoner who is acquitted.
Barbican
An ancient word to signify a watch-tower.
Bare trust
Bargainee
A person to whom a bargain is made; one who receives the advantages of a bargain.
Bargainor
A person who makes a a bargain, and who becomes bound to perform it.
Bargemen
Persons who own and keep a barge for the purpose of carrying the goods of all. such other persons who may desire to employ them.
Barleycorn
A lineal measure, containing one-third of an inch
Barn
Estates. A building on a farm used to receive the crop, the stabling of animals, and other purposes.
RELATED TERMS--------------------------------------
Trust
Contracts, devises. An equitable right, title or interest in property, real or personal, distinct from its legal ownership; or it is a personal obligation for paying, delivering or performing anything, where the person trusting has no real. right or security, for by, that act he confides altogether to the faithfulness of those intrusted. This is its most general meaning, and includes deposits, bailments, and the like. In its more technical sense, it may be defined to be an obligation upon a person, arising out of a confidence reposed in him, to apply property faithfully, and according to such confidence.
Passive
Common law. All the sums of which one is a debtor. It is used in contradistinction to active. . By active debts are understood those which may be employed in furnishing assets to a merchant to pay those which he owes, which are called passive debts.
Trustee
Estates. A trustee is one to whom an estate has been conveyed in trust.
Duties
In its most enlarged sense, this word is nearly equivalent to taxes, embracing all impositions or charges levied on persons or things; in its more restrained sense, it is often used as equivalent to customs or imposts.
Settlor
The person who sets up a trust. Also referred to as "grantor."
Transfer
Contracts The act by which the owner of a thing delivers it to another person, with the intent of passing the rights which he has in it to the latter.
Property
Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.
Beneficiary
A broad definition for any person or entity who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution.
SIMILAR TERMS--------------------------------------
Barely legal
An adult entertainment concept not related to the legal profession.
Barely legal girl
A concept from the adult entertainment industry, nothing to do with legal matters.
Barely legal teen
An adult entertainment concept not related to the legal profession.
PREVIOUS AND NEXT TERMS--------------------------------------
Bannitus
One outlawed or banished.
Bans of matrimony
The giving public notice or making proclamation of a matrimonial contract, and the intended celebration of the marriage of the parties in pursuance of such contract, to the end that persons objecting to the same, may have an opportunity to declare such objections before the marriage is solemnized.
Bar examination
A state examination taken by prospective lawyers in order to be admitted and licensed to practice law.
Bar fee
English law. A fee taken time out of mind by the sheriff for every prisoner who is acquitted.
Barbican
An ancient word to signify a watch-tower.
Bare trust
Bargainee
A person to whom a bargain is made; one who receives the advantages of a bargain.
Bargainor
A person who makes a a bargain, and who becomes bound to perform it.
Bargemen
Persons who own and keep a barge for the purpose of carrying the goods of all. such other persons who may desire to employ them.
Barleycorn
A lineal measure, containing one-third of an inch
Barn
Estates. A building on a farm used to receive the crop, the stabling of animals, and other purposes.
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This dictionary contains 8526 terms.
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