Legal definition of trust
Trusts & Estate Planning Legal Terminology

trust

1
\ trʌst \ "Trust" means an express trust, private or charitable, with additions to it, wherever and however created. It also includes a trust created or determined by a judgment or decree under which the trust is to be administered in the manner of an express trust. “Trust” excludes other constructive trusts, and it excludes resulting trusts; conservatorships; custodial arrangements pursuant to the Florida Uniform Transfers to Minors Act; business trusts providing for certificates to be issued to beneficiaries; common trust funds; land trusts under s. 689.071, except to the extent provided in s. 689.071(7); trusts created by the form of the account or by the deposit agreement at a financial institution; voting trusts; security arrangements; liquidation trusts; trusts for the primary purpose of paying debts, dividends, interest, salaries, wages, profits, pensions, or employee benefits of any kind; and any arrangement under which a person is nominee or escrowee for another. (PART II, Sec. 731.110)
Source: FLorida Probate Code. website
2
a. Trust law, an arrangement in which property is managed by one person or entity for the benefit of another;

b. Trust (monopoly), a business entity formed to create a monopoly or fix prices;

c. Massachusetts business trust, a type of company also called an unincorporated business organization;

d. Investment trust, a collective investment fund;

e. Trust company, a financial institution offering certain services
Source: Wikipedia - The Free Encyclopedia. website. license
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