Trust Law
In common law legal systems, a trust is an arrangement whereby money or property is managed by one person for the benefit of another but is owned by the 'trust'. The trust is created by a settlor who entrusts some or all of his/her property to peopl eof his choice who become trustees, i.e. the legal owners of the trust property (alt. corpus).
The trust is governed by the terms of the trust document, which is usually written and in deed form. It is also governed by local law.
