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ARTICLE · 15 JANUARY 2021

You Settled Your Property On Trust – Now What?

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Under Trust law, once the settlor has settled property on trust, he relinquishes any ownership rights on the trust property since the ownership would be transferred from the settlor to the trustee.

MaltaFinance and Banking
Davinia Cutajar
Davinia Cutajar
Charlotte Attard
Charlotte Attard
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Under Trust law, once the settlor has settled property on trust, he relinquishes any ownership rights on the trust property since the ownership would be transferred from the settlor to the trustee. The settlor would have limited control over the trust and its administration unless he reserves certain powers to himself on the trust deed. Nevertheless, even though the settlor might have certain reserved powers, he would still not be considered to have full control over the trust and ultimately the trustee's administration and decision-making powers.

The beneficiaries of a trust similarly have no control over the trust assets and how they are administered.

How can a settlor ensure that the purpose of the trust, and the settlor's vision, are retained?

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