District of Columbia Declaration of Trust

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Description

This document is a 53-page Declaration of Trust. It includes definitions of all relevant terms, as well as the constitution, capital accounts, valuations and prices, issue of units, register of unitholders, transmission, redemption of units, and every other necessary clause that constitutes a valid Declaration of Trust.

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FAQ

(2) ?Deed of trust? means a mortgage or a deed of trust encumbering real property located in the District of Columbia as the same may be modified, amended, supplemented, or restated.

The most common example of when a declaration of trust is used is the situation where an adult son or daughter borrows money for a deposit on a first house from his or her parents. The parents may have a mortgage already, and the terms of that mortgage prevent them from borrowing under another.

declared trust is a situation in which an individual who has both legal and equitable ownership declares that she now owns the legal title for the benefit of another individual.

A trust holds the beneficial ownership of shares in a company of which one trustee is a director. Of the three beneficiaries, two are adults and there is a declaration of trust in respect of the shares held for them.

A Declaration of Trust ? Stock is a document identifying a trustee to oversee stocks or shares being held for the benefit of the individual appointing the oversight. The specified assets are held in a trust and the trust agreement should state the purpose of the trust and its beneficiaries.

A Declaration of Trust is a legal document that declares who owns an asset or property and who will benefit from it. On the other hand, a Trust Agreement is an agreement between two parties where one party agrees to hold assets for another party's benefit.

A declaration of trust not only appoints a trustee but defines the trust to be created in considerable detail. It identifies the assets held within the trust. It states who will benefit from the trust and who can amend or revoke the trust as well as the name of the trustee and what powers the trustee holds.

A trust deed is a legal document that sets out the rules for establishing and operating your fund. It includes such things as the fund's objectives, who can be a member and whether benefits can be paid as a lump sum or income stream.

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District of Columbia Declaration of Trust