Trust merger is when the sole trustee and the sole beneficiary of the trust are the same person or institution. When this occurs, there is no longer separation between the trustee’s legal ownership of the trust property and the beneficiary’s...
PROPERTY
trust property
Trust property is also known as the “trust res” or “corpus.” It is the property that is the subject of the trust. The property must be presently existing and identified. Trust property can be any property interest that the law recognizes as a valid...
trust protector
A trust protector is a role with specific duties that is assigned by the trust document in order to fulfill the purpose of the trust. In the Uniform Trust Code Section 808, the trust protector is defined as “a person other than the trustee or...
trust res
Trust res, also named as trust corpus, principal, subject matter, or trust property, is the property that is transferred into a trust. The term “corpus” is Latin for "body.” A trust corpus is the "body" of the trust. It is the property that...
trustee
A trustee is a third party who is authorized by a settlor to execute and manage trust assets. A trustee holds the title of the trust asset. A trustee is a requirement of an express trust along with trust property, trust intent, and definite...
trustee in bankruptcy
See Bankruptcy Trustee.
[Last updated in October of 2021 by the Wex Definitions Team]
trustee powers
Trustee powers are generated from a trust document, and these are the powers the trustee may exercise without violation of the law or the terms of the trust. For example, the power to buy and sell assets. Most trustee powers are permissive,...
trustor
See: settlor.
[Last updated in August of 2021 by the Wex Definitions Team]
typosquatting
Typosquatting is the process of acquiring similarly spelled or misspelled domain names for the purpose of capturing traffic intended for another website. Typosquatters profit from this conduct in multiple ways, such as providing pop-ups for...
U.S. Court of Appeals for the Federal Circuit
The U.S. Court of Appeals for the Federal Circuit (C.A.F.C.) has nation-wide jurisdiction over certain disputes that involve the Federal government including intellectual property, international trade, government contracts, and federal...