Settlor definition

Settlor means a person, including a testator, who creates, or contributes property to, a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution except to the extent another person has the power to revoke or withdraw that portion.
Settlor means that term as defined in section 7103 of the estates and protected individuals code, 1998 PA 386, MCL 700.7103.
Settlor shall have the meaning defined in the preamble hereto.

Examples of Settlor in a sentence

  • Such accounts, records and computer systems shall indicate, among other things, the Pool to which each Lease Agreement, Leased Vehicle or other Trust Asset is allocated and reflect the interest of the Settlor or the Related Beneficiary, as applicable, therein.

  • Each of the parties hereto, in addition to the provisions of Section 6.13 of the Basic Servicing Agreement, covenants and agrees that prior to the date that is one (1) year and one (1) day after the date on which all Notes have been paid in full, it will not institute against, or join any other person in instituting against the Titling Trust or the Settlor, any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceeding or other Proceeding under any Insolvency Law.

  • The Servicer, with, to the extent applicable, the cooperation of the Settlor, the Owner Trustee or the Titling Trust, shall timely prepare and file or cause to be filed, with the appropriate Person each Filing and each such ancillary undertaking, and shall pay any and all fees, Taxes or expenses required to be paid in connection with the foregoing.

  • All transactions and dealings between the Servicer, on the one hand, and the Settlor, the Titling Trust, the Depositor and the Issuer, on the other hand, will be conducted on an arm’s-length basis.

  • The Trustor or Settlor of this trust is , an Individual, residing at , , California .


More Definitions of Settlor

Settlor means a person who provides trust property or makes a testamentary disposition on trust or to a trust;
Settlor means a person, including a testator, who creates, or
Settlor means VCI, as settlor under the Origination Trust Agreement.
Settlor means a person, including a testator, who
Settlor means a person, including a testator, who creates a trust.
Settlor means a person, including a testator, that
Settlor means a person, including a testator, who creates, or contributes property to, a trust. If