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The public trust doctrine is the principle that the sovereign holds in trust for public use some resources such as shoreline between the high and low tide lines, regardless of private property ownership.
The public trustee is an office established pursuant to national (and, if applicable, state or territory) statute, to act as a trustee, usually when a sum is required to be deposited as security by legislation, if courts remove another trustee, or for estates if either no executor is named by will or the testator elects to name the public trustee.
United States trust law is the body of law that regulates the legal instrument for holding wealth known as a trust.. Most of the law regulating the creation and administration of trusts in the United States is now statutory at the state level.
Private and public trusts: A private trust has one or more particular individuals as its beneficiary. By contrast, a public trust (also called a charitable trust) has some charitable end as its beneficiary. To qualify as a charitable trust, the trust must have as its object certain purposes such as alleviating poverty, providing education ...
In the United Kingdom, a trust port is a port that is administrated as a trust by an independent statutory body set up by an Act of Parliament and governed by its own set of rules and statutes. [ 1 ] [ 2 ] This is in contrast to a private port, which is privately owned, and a municipal port, which is owned by the local authority .
The trust cannot be canceled without the approval of all beneficiaries and the grantor: If a trust must be canceled, it requires the approval of all the beneficiaries and the grantor, potentially ...
Waddell’s Lessee, that the Supreme Court ratified the public trust doctrine. [2] Still, Illinois Central has been referred to as "the Lodestar in American Public Trust Law". [2] As of 2010, the courts of 35 states had cited Illinois Central in their articulation of the public trust doctrine. [2]
State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, property, or enterprise by the national government of a country or state, or a public body representing a community, as opposed to an individual or private party. [1] Public ownership specifically refers to industries selling goods and ...