Traducir Trust Agreement

Posted by on December 19, 2020

Trusts can be created to manage any type of property, be it furniture, real estate, tangible or intangible. A position of trust is created when the elector (Settlor or Trustor) entrusts the administration of a beneficial person to a director (agent) for the benefit of a third party (beneficiary). In order for such administration to be implemented, legal property or, in accordance with common law (legal property), must be transferred to fiduciary property, while fair ownership (reasonable or commercial property) is the responsibility of the beneficiary. The duties and duties of the management of the property are thus separated from the benefits and rights of the enjoyment of the property. The trust could therefore be defined as a mechanism for dividing the property against something, in order to protect its beneficiaries (actual or actual owners). One of the most common forms of trust in the family context is the interest of life, which aims to live a family and future generations. Before the conquest of England by the Normans in the 11th century, there were cases where someone (feoffor) transferred his country to another person (use Feoffee or Feoffee) to administer them for the benefit of a third party (beneficiar, Cestui, whether trust or that is use). Today, trusts are considered the largest capital creation that I mentioned in a previous article. Note: In the event of an estate trust, the trusted creator is designated as a tester or testatrix. Trusts can be classified in different ways. The practical implications and formalities vary depending on the category to which they belong. Trust is one of the legal institutions characteristic of Anglo-Saxon law and, although it is formed as a mechanism in the field of the family or the private sector, it is now used in other areas such as the economy. In Spain, the Trust is an exclusive succession institution with characteristics very different from those of the Anglo-Saxon trust, so its translation by “trust” is not always correct.

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