Trust Property
/ˈtrʌst ˈprɒpəti/
Definitions
- (n.) Assets and property held by a trustee for the benefit of beneficiaries under a trust agreement.
The trustee must manage the trust property prudently to protect the beneficiaries' interests.
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Commentary
Trust property encompasses all legal and equitable interests assigned to a trust; clarity in describing the property's extent is critical in trust drafting.
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.