Bank Trust
/ˈbæŋk ˌtrʌst/
Definitions
- (n.) A fiduciary relationship whereby a bank holds property, assets, or legal title for the benefit of another party under a trust agreement.
The bank trust manages the estate assets according to the beneficiary's instructions.
- (n.) A type of trust created and managed by a bank or its trust department, often involving estate or investment management services.
He set up a bank trust to ensure professional administration of his inheritance.
Forms
- bank trust
- bank trusts
Related terms
See also
Commentary
The term 'bank trust' often refers both to the arrangement and the institutional service; drafters should clarify context to distinguish between the relationship and the entity providing trust services.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.