Trusts: definition: trust
The word `TRUST’ describes a relationship between certain persons
- which is recognized by the law
- concerned with particular property, and
- enforceable by reference to rules of trust law.
There are five ingredients in this relationship in the normal case, described in TCGAas a settlement.
A settlor (CG33021)
Settled Property (CG33028)
(Note that in England & Wales and Northern Ireland but not in Scotland the wordtrust’ traditionally is used to describe particular obligations; several parts of TCGArefer to “property being held on trusts that secure ”.