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In trust law, a settlement is a deed (also called a trust instrument) whereby real estate, land, or other property is given by a settlor into trust so the beneficiary has the limited right to the property (for example, during their life), but usually has no right to sell, bequeath or otherwise transfer it. Instead the property devolves as ...
The rights and obligations of the beneficiary, trustee, third parties contracting with the trust and potentially of other parties (such as the settlor of the trust or, if the trust provides for such, a protector or enforcer of the trust) depend on the terms of the trust deed. Trust law includes both mandatory law (that is, law which cannot be ...
Land trusts also sell land to private buyers, usually with a strict conservation easement attached. Land trusts use many different tools in their protection efforts. Land trusts buy or accept donations of land in fee. This means that the landowner will sell fee simple interest to the land trust or will just give the land they own to an ...
Under ancient common law principles, a trust could not exist unless there was at least some "title split" – that is, the same person cannot generally hold all legal and all equitable title at the same time. If the legal and equitable title merge in the same person, the trust is considered nonexistent under the so-called merger doctrine. [96]
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 . At the time, land ownership in England was based on the feudal system. When a landowner left England to fight in the Crusades, he conveyed ...
In 2006, Donna Schwartzbauer spent $15,000 on what she thought was a nice plot of land in Ross Township, Pennsylvania, just outside of Pittsburgh.She decided to build a house on it and make it her ...
More than one legal owner means the land is deemed to be on trust. This doctrine is designed to bind the parties to act fairly to each other in the eyes of the law of equity. In default of other provision, such as mention of a trust deed, or background facts, the beneficiaries will be deemed to be the trustees (those named on the registered ...
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