The concept of a trust is well-known and well-established in common law countries such as the United Kingdom and the United States. A trust is a collection of legal rights brought into being by a legal process under English law. In legal terms, a trust is an equitable obligation, normally established by a written document, binding a person to deal with property over which control has been passed to him for the benefit of one or more beneficiaries.
Trusts are created by a deed of trust (the trust deed) recording the creation of such a trust which may or may not be signed by the settlor, but is signed by the trustees.
The essence of a trust is the separation of control from ownership. The person who establishes the trust no longer thereafter owns the assets which he has put into the trust. A trustee is a separate legal entity and can be either an individual or a company, which accepts the responsibility of holding rights or property so that the value accrues to the
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