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.

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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

• Commencing with the completion of the first issuance of Units (other than the Initial Unit), the Trust will purchase and the Settlor will sell the Initial Unit for a purchase price of $10.00.

• The Manager, as Original Trustee, confirms that to constitute and settle the Trust the Settlor gave to the Original Trustee the sum of Ten Dollars ($10.00) and thereby established the Trust for the benefit of the holders of its Units from time to time, and the Settlor was issued one Unit (the “Initial Unit”).

• Witness to the signature of: ▇▇▇▇ ▇▇▇▇▇▇, Settlor SPROTT ASSET MANAGEMENT LP, by its general partner, SPROTT ASSET MANAGEMENT GP INC., in its capacity as the Manager of the Trust By: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Chief Executive Officer By: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Chief Financial Officer We have the authority to bind the Manager.

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 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, or

Settlor means a person, including a testator, who creates or contributes

Settlor means a person, including a testator, that

Settlor means a person, including a testator, who creates a trust.