held in trust

held in trust
Property in the possession of a trustee; property in the possession of, one other than the owner, such as an agent, bailee, factor, etc., who must account to the owner for the property or the proceeds thereof. As used in fire insurance policies, phrases describing property as held in trust, or on commission, and kindred terms in a policy to an agent, factor, or the like, have been held to give to the owner a right to take the place of the insured, to adopt the contract, and enforce it in his own name or that of his agent. Waring v Indemnity Fire Ins Co. 45 NY 610.

Ballentine's law dictionary. . 1998.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • held in trust — index in trust Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • conditional deed held in trust — index escrow Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • contingent deed held in trust — index escrow Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …   Law dictionary

  • trust — [trust] n. [ME < ON traust, trust, lit., firmness < IE * drou sto < base * deru , tree > TREE, TRUE + sto , standing < base * sta , to STAND] 1. a) firm belief or confidence in the honesty, integrity, reliability, justice, etc. of… …   English World dictionary

  • Trust — may refer to:* Trust (social sciences), a relationship of reliance. ** Trust Fall, a trust building game.In law: * Trust law, where money or property is owned and managed on behalf of another * Escrow, where a thing is held in trust until… …   Wikipedia

  • trust for sale — ˌtrust for ˈsale noun trusts for sale PLURALFORM [countable] LAW a trust that contains instructions to sell land or other property immediately and to give the money made from the sale to a named person or named people * * * trust for sale UK US… …   Financial and business terms

  • Trust — Trust, a. Held in trust; as, trust property; trustmoney. [1913 Webster] …   The Collaborative International Dictionary of English

  • trust fund — trust′ fund n. money, securities, etc., held in trust • Etymology: 1860–65 …   From formal English to slang

  • trust fund — n. money, securities, etc. held in trust …   English World dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”