Corporate Trust Structures
May 21, 2019 | Joe
A Trust is a contractual agreement where the trustees (fiduciaries) are given legal title to the trust property (real or personal) to administer it for the advantage of its beneficiaries who hold equitable title to the Trust property. The beneficiaries receive certificates of beneficial interest as evidence of their interest in the trust, which is freely transferable when stated within the Trust Indenture by-laws.
Setting up the Trust
After your Trust is set up, you grant asset(s) to the Trust. When the assets are recorded in the Trust Minutes, The asset(s) belongs to the Trust. The following people or entities are actors within the Trust process:
Note: Corporate Trust Structures for real property are recorded at the County Recorder’s Office and typically have a 72 hour rescission wait time before the county recognizes the granting of the property into the Trust.
- Grantor – Trusts have a Grantor, sometimes called a Settlor or Trustor.
- Trustee – The Trustee can be any individual or organization that can take title to the property on behalf of a Beneficiary.
- Beneficiary – The Beneficiary is the Actor(s) benefiting from the Trust.