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The public trust doctrine also finds expression in the Great Pond law, a traditional right codified in case law and statutes in Massachusetts, Maine, and New Hampshire. [13] The state is said to own the land below the low water mark under great ponds (ponds over ten acres), and the public retains in effect an access easement over unimproved ...
The leading case that established the public trust doctrine in the U.S. is the 1892 Supreme Court case Illinois Central Railroad v. Illinois.The Court held that public trust submerged lands belong to the respective States within which they are found, with the consequent right to use or dispose of any portion thereof, when that can be done without substantial impairment of the interest of the ...
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.
The public trust doctrine, as discussed by the Court in this judgment was a part of the law of the land. The prior approval granted by the Government of India, Ministry of Environment and Forest and the lease-deed dated 11.04.1994 in favour of the Motel were quashed.
The law of trusts was constructed as a part of "Equity", a body of principles that arose in the Courts of Chancery, which sought to correct the strictness of the common law. The trust was an addition to the law of property, in the situation where one person held legal title to property but the courts decided it was fair just or "equitable" that ...
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
In private international law, the public policy doctrine or ordre public (French: lit. "public order") concerns the body of principles that underpin the operation of legal systems in each state. This addresses the social, moral and economic values that tie a society together: values that vary in different cultures and change over time.
Personal trust law developed in England at the time of the Crusades, during the 12th and 13th centuries. In medieval English trust law, the settlor was known as the feoffor to uses, while the trustee was known as the feoffee to uses, and the beneficiary was known as the cestui que use, or cestui que trust .