Category: T

Common telephone circuit connecting 2 switch systems, one at the exchange anode at the person calling.

1. An equitable or beneficial right or title to land or other property, held for the beneficiary by another person, in whom resides the legal title or ownership, recognized and enforced by courts of chancery. See Goodwin v. McMinn, 193 Pa. 046, 44 Atl. 1094, 74 Am. St. Rep. 703; Beers v. Lyon, 21 Conn. 613; Seymour v. Freer, 8 Wall. 202, 19 L. Ed. 300. An obligation arising out of a confidence reposed in the trustee or representative, who has the legal title to property conveyed to him, that he will faithfully apply the property according to the confidence reposed, or, in other words, according to the wishes of the grantor of the trust. 4 Kent Comm. 304; Willis, Trustees, 2; Beers v. Lyon, 21 Conn. 613; Thornburg v. Buck, 13 Ind. App. 446, 41 N. E. 85. An equitable obligation, either express or Implied, resting upon a person by reason of a confidence reposed in him, to apply or deal with the property for the benefit of some other person, or for the benefit of himself and another or others, according to such confidence. McCreary v. Gewinner, 103 Ga. 528, 29 S. E. 9G0. A holding of property subject to a duty of employing it or applying its proceeds ac- cording to directions given by the person from whom it was derived. Munroe v. Crouse. 59 Hun. 248, 12 N. Y. Supp. 815.

1. Account where the bank or trust company is holding funds for insurance premiums or property taxes. Also known as escrow account.2. Trust agreement established savings account.

a trust where the trustee participates in handling the assets by selling and buying property or securities etc,

Formal agreement where a trust or will vest ownership rights to one or more assets to one or more trustees to conserve and protect on behalf of trust beneficiaries.

Clause allowing the purchase of insurance for an individual’s share in another person’s property.

Bank in Japan combining functions of trust company, depository in situation and a commercial bank.

the term given to a trust that benefits the public, is a non-profit organisation.

Lease arrangement for many years where landlord retains ownership but the tenant keeps possession of the property for the lease term.

Business that works solely in fiduciary relationships with organisations and individuals and acts as guardian, executor, trustee in the administration of all custodial arrangements, trust funds and estates.