Simple Trust - Definition - Law Dictionary Home Dictionary Definition simple-trust

Definition :

Simple trust: where property is vested in one person upon trust for another, and the nature of the trust, not being qualified by the settlor, is left to the construction of law. In this case the cestui que trust has jushabendi, or the right to be put into actual possession of the property, Jusdisponendi, or the right to call upon the trustee to execute conveyances of the legal estate as the cestui que trust directs. See BARE TRUSTEE and Law of Property Act, 1925, s. 3 (3), and Settled Land Act, 1925, s. 7 (5), enabling a person entitled to a legal estate to have it conveyed to him, and also L.P. Act, 1925, 1st Sch., Part II., par. (3), as amended by the L.P. (Amendment) Act, 1926, vesting the estate existing on 1st January, 1926, in the beneficial owner by force of the statute.