express trust definition
express trust means a trust created by the express declaration of a settlor or a trustee made orally, by instrument in writing or by will;
express trust means a fiduciary relationship with respect to property which arises as a manifestation by the settlor of an intention to create the relationship and which subjects the person holding title to the property to equitable duties to deal with the property for the benefit of another person.
express trust means a trust created by a settlor usually by form of a document such as a trust deed or written deed of trust;
More Definitions of express trust
express trust means a trust as described in Code Section 53-12-20.
express trust means a trust as described in Code Section 53-12-10.
express trust means a trust other than a trust which arises by construction on implication of law such as a constructive or implied trust;
express trust means a trust within the meaning of the Trusts Act, but excludes a trust arising by operation of law, including a resulting trust and a constructive trust;
express trust means a trust intentionally set up by the settlor, inter vivos or on death, usually in a form of written document, to place assets under the control of a trustee for the benefit of a beneficiary or for a specified purpose;
express trust means a trust intentionally created by the settlor, inter vivos or on death, usually in a form of written document to place assets under the control of a trustee for the benefit of a beneficiary or for a specified purpose, usually to fulfil a business or personal need.
express trust means funds that have been paid by an owner, for or in connection with materials used in an improvement of real property, which are to be held by a contractor or subcontractor, in express trust, for material men. Any such contractor or subcontractor who accepts money from any owner or contractor shall become the trustee of the express trust that is created under this act. The amounts received by such contractor or subcontractor under or in connection with each building project shall be a separate trust and the contractor or subcontractor, or any successor and/or assign of such contractor or subcontractor that hold such trust funds, shall be a trustee thereof. These funds are not required to be held in any separate account by a contractor or subcontractor. Such trust shall be effective against and shall have priority over any interest of a party seeking payment from such contractor or subcontractor for claims other than those that are due and owing by reason of the specific building project for which the trust was created, whether such creditors are foreign attachment or other judicial lien creditors, a trustee in bankruptcy or similar creditors or representatives or creditors of the contractor or subcontractor.