NOUN
- (law) a person who creates a trust by giving real or personal property in trust to a trustee for the benefit of a beneficiary; a person who gives such property is said to settle it on the trustee
How To Use settlor In A Sentence
- Many jurisdictions will look through the trust and tax the settlor or beneficiaries directly.
- • Contracts should be structured as three-way trust relationships where possible, with the government as settlor, the contractor as trustee, and the affected population as beneficiary. David Isenberg: Outsourcing War and Peace: Part 5
- In this real world context, the main role that the RAP has to play is to generate drafting errors that can be used to defeat a legitimate intent of the settlor. The Volokh Conspiracy » Should We Teach Law Students the Rule Against Perpetuities?
- The settlor may designate whomsoever he wishes and vest in that person the power to appoint succeeding trustees, though sometimes the power is placed with the cestui que trust and sometimes with the settlor. The Catholic Encyclopedia, Volume 15: Tournely-Zwirner
- Generally speaking, a trustee administers a trust, which Black's Law Dictionary defines as a property interest held by the trustee at another's request (the settlor) for a third party's benefit (beneficiary) according to the trust's terms or those of any relevant will if the trust is created in that document. So You Want To Be A Trustee?
- Article 19: A settlor shall be a natural person or a legal person or other legally established organization with full civil capacity.
- Two bearer shares were allocated to Hemery and then transferred to trusts of which the two appellants and Baber were settlors.
- Accordingly any benefits derived by the settlor were not derived from the interests given.
- The settlor and his spouse should thus effectively be excluded from all possible benefit under the trust.
- Mr X is the settlor, and he is not domiciled, resident or ordinarily resident in the United Kingdom.
