Trust Deed - Law Dictionary Search Results

Home Dictionary Name: trust deed

deed 1 : something done : act [my free act and ] 2 : a written instrument by which a person transfers ownership of real property to another see also deliver, grantee, grantor, recording act, registry, title compare certificate of title NOTE: A deed must be properly executed and delivered in order to be effective. Additionally, the grantor must have freely intended to make the transfer at the time of the conveyance. Deeds are recorded at the local registry of deeds to give notice of ownership. bargain and sale deed 1 : a contract resulting from a bargain between a buyer and a seller of real property that creates a use in the buyer and therefore transfers title to the buyer by operation of law 2 : a deed in which the grantor makes no warranties of title to the grantee deed of trust : an instrument securing a debt in which a debtor conveys the legal ownership of real property to a trustee to be held in trust for the benefit of the creditor or to be sold upon the debtor's defaul...

Marriage settlement

Marriage settlement, an arrangement made before marriage, and in consideration of it (the highest consideration known to the law), whereby real or personal property is settled for the benefit of the husband and wife and the issue of the marriage. There is an express saving for such a settlement in s. 19 of the (English) Married Women's Property Act, 1882, and see the (English) Married Women's Property Act, 1907 (7 Edw. 7, c. 1), invalidating a settlement made by a female infant unless confirmed after attaining 21, but without prejudice to settlements under the Infants Settlement Act, 1855 (see post, MARRIED WOMEN'S PROPERTY).Although the policy of the land legislation of 1924 was to assimilate the law of real property to that of personalty as far as possible, marriage settlements of land (not being effected by way of trust for sale), and if providing for infant or for a succession of interests in land or charging land (but in this case subject to the (English) Law of Property Amendment...

Deed

Deed [fr. d'd, Sax.; ded gaded, Goth.;daed, Dut.], a formal document on paper or parchment duly signed, sealed, and delivered. It is either an indenture (factum inter partes) needing an actual indentation [(English) Real Property Act, 1845 (8 & 9 Vict. c. 106), s. 5], reproduced by the Law of Property Act, 1925, s. 56 (2), made between two or more persons in different interests, or a deed-poll (charta de una parte) made by a single person or by two or more persons having similar interests. By the (English) Law of Property Act, 1925, s. 57, a deed may be described according to the nature of the transaction, e.g., 'this lease,' 'this mortgage,' etc., or as a 'deed' and not habitually by the word 'indenture.'The requisites of a deed are these:-(1) Sufficient parties and a proper subject of assurance.(2) It must be written, engrossed, printed, or lithographed, or partly written or engrossed, and partly printed or lithographed in any character or in any language, on paper, vellum, or parchm...

Kenyon-Slaney Clause

Kenyon-Slaney Clause, s. 7 (6) of the (English) Education Act, 1902 (2 Ed. 7, c. 42), and is as follows:-(6) Religious instruction given in a public elementary school not provided by the local education authority shall, as regards its character, be in accordance with the provisions (if any) of the trust deed relating thereto, and shall be under the control of the managers: Provided that nothing in this sub-s. shall affect any provision in a trust deed for reference to the Bishop or superior ecclesiastical or other denominational authority so far as such provision gives to the Bishop or authority the power of deciding whether the character of the religious instruction is or is not in accordance with the provisions of the trust deed.The clause was inserted on a motion of Colonel Kenyon-Slaney, M.P. for the Newport division of Shropshire, but the proviso was added by the House of Lords. This clause was repealed and re-enacted by the (English) Education Act, 1921 (11 & 12 Geo. 5, c. 51), s...

Trustee

Trustee, is the legal owner of the property the actual owner thereof having lost title thereto by the creation of a trust. The equitable ownership in the trust property vests in the beneficiaries. The trust is thus an incidence of dual ownership in which the creator of the trust no longer figures, Baba Badri Dass v. Dharma, AIR 1982 P&H 255.Means one who, having legal title to property, holds it in trust for the benefit of another and owes a fiduciary duty to that beneficiary, Black's Law Dictionary, 7th Edn., p. 1519.Trustee, one entrusted with property for the benefit of another, called beneficiary, or cestui que trust. See also PUBLIC TRUSTEE; BREACH OF TRUST.Consult Lewin or Godefroi on Trusts.'Trustee' means any person, by whatever desig-nation known, appointed to administer a religious trust either verbally or by or under any deed or instrument or in accordance with the usage of such trust or by the District Judge or any other competent authority, and includes any person appointe...

Breach of trust

Breach of trust, a violation of duty by a trustee, executor, or other person in a fiduciary position.In some cases a breach of trust may be a comparatively venial offence, arising from the trustee having honestly misconstrued the deed or will creating the trust either as to the persons entitled, or as to his powers of investment of or dealing with the trust property, or having otherwise erred in the discharge of his strict duty; in other cases he may have been guilty of negligence or carelessness involving at least some degree of moral blame; or, in other cases again, he may have committed some gross fraud. But in all these cases alike the trustee is personally responsible at the suit of the beneficiaries for any loss which may have resulted, and the rules of equity on the subject were extremely strict and were enforced with great severity by the Court of Chancery. In later times, however, the Court was not quite so astute in fixing honest trustees with liability for breach of trust as...

Instrument

Instrument [instrumentum, Lat., fr. instruo, to prepare or provide], a formal legal writing-e.g., a record, charter, deed or transfer, or agreement. By s. 205(1)(viii.) of the (English) Law of Property Act, 1925, 'Instrument' (for the purposes of the Act) 'does not include a Statute, unless the Statute cre-ates a Settlement.' See also Settled Land Act, 1925,s. 117; see also TRUST INSTRUMENT; VESTING INSTRUMENT. A telegram and an envelope with a falsified postmark have been held to be 'instruments' within the meaning of the Forgery Act, 1861, s. 38, now replaced by s. 7, (English) Forgery Act, 1913 [R. v. Riley, (1896) 1 QB 309; R. v. House, 28 TLR 186]; also an engine.Includes every document by which any right or liability is, or purports to be, created, transferred, modified, limited, extended, suspended, extinguished or recorded. [Notaries Act, 1952 (53 of 1952), s. 2 (b)]Includes every document by which any right or liability is, or purports to be created, transferred, limited, exte...

Trust Funds

Trust Funds. In addition to the securities mentioned in the instrument creating the trust, trustees may invest trust funds in securities specified in the Trustee Act, 1925, unless expressly forbidden by the trust deed. The effect of the Trusts (Scotland) Act, 1921, on Scots trusts should be noted. With regard to funds in Court, see R.S.C., Ord. XXII., r. 17, and County Courts Act, 1934, ss. 52 (3), 158...

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