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The distinction between traditional custodians and traditional owners is made by some, but not all, First Nations Australians. [49] [50] On one hand, Yuwibara man Philip Kemp states that he would "prefer to be identified as a Traditional Custodian and not a Traditional Owner as I do not own the land but I care for the land."
A deed of trust refers to a type of legal instrument which is used to create a security interest in real property and real estate. In a deed of trust, a person who wishes to borrow money conveys legal title in real property to a trustee , who holds the property as security for a loan ( debt ) from the lender to the borrower.
In South Africa, in addition to the traditional living trusts and will trusts there is a "bewind trust" (inherited from the Roman-Dutch bewind administered by a bewindhebber) [51] in which the beneficiaries own the trust assets while the trustee administers the trust, although this is regarded by modern Dutch law as not actually a trust. [52]
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A revocable, or “living” trust is a commonly used type of trust that allows the grantor — the trust’s creator — to make changes, or even cancel the trust, based on their preferences.
A nominee trust is an example of a bare trust: [5] this is a simple type of trust where the trustee acts as the legal owner of some property but is under no obligation to manage the trust fund other than as directed by the beneficiary, [6] and where there are no restrictions beneficiary's right to use the property. [7] A nominee trust is also ...
A trust is a three-party fiduciary relationship in which the first party, the trustor or settlor, transfers ("settles") property (often but not necessarily a sum of money) upon the second party (the trustee) for the benefit of the third party, the beneficiary. [1]
Beneficial owner is subject to a state's statutory laws regulating interest or title transfer. [2] This often relates where the legal title owner has implied trustee duties to the beneficial owner. [clarification needed] A common example of a beneficial owner is the real or true owner of funds held by a nominee bank.