passive trust


passive trust
A trust whereof the trustee has no active duties to perform; a trust in which the beneficiary has the entire management of the estate and the retention of legal title is not essential to the performance of any duty imposed upon the trustee. 54 Am J1st Trusts § 13. See dry trust.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • passive trust — Trust Trust, n. [OE. trust, trost, Icel. traust confidence, security; akin to Dan. & Sw. tr[ o]st comfort, consolation, G. trost, Goth. trausti a convention, covenant, and E. true. See {True}, and cf. {Tryst}.] 1. Assured resting of the mind on… …   The Collaborative International Dictionary of English

  • passive trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • passive trust — noun a trust in which the trustee performs no active duties • Ant: ↑active trust • Hypernyms: ↑trust * * * noun : a trust in which the trustee has no active duty other than to hold title for the benefit of the designated beneficiary called also… …   Useful english 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. [OE. trust, trost, Icel. traust confidence, security; akin to Dan. & Sw. tr[ o]st comfort, consolation, G. trost, Goth. trausti a convention, covenant, and E. true. See {True}, and cf. {Tryst}.] 1. Assured resting of the mind on the… …   The Collaborative International Dictionary of English

  • Trust deed — Trust Trust, n. [OE. trust, trost, Icel. traust confidence, security; akin to Dan. & Sw. tr[ o]st comfort, consolation, G. trost, Goth. trausti a convention, covenant, and E. true. See {True}, and cf. {Tryst}.] 1. Assured resting of the mind on… …   The Collaborative International Dictionary of English

  • trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

  • passive — As used in law, this term means inactive; permissive; consisting in endurance or submission, rather than action; and in some connections it carries the implication of being subjected to a burden or charge. As to passive debt passive negligence… …   Black's law dictionary

  • passive — pas·sive / pa siv/ adj: not involving, deriving from, or requiring effort or active participation imposed a passive duty not to interfere; specif: of, relating to, or being business activity in which the investor does not have immediate control… …   Law dictionary

  • Passive-aggressive behavior — refers to passive, sometimes resistance to following authoritative instructions in interpersonal or occupational situations. It can manifest itself as learned helplessness, procrastination, stubbornness, resentment, , or deliberate/repeated… …   Wikipedia