A trust is when the trustor entrusts his property rights to the trustee based on his trust in the trustee, and the trustee manages it in his own name according to the wishes of the trustor for the benefit of the beneficiary or for a specific purpose. and disciplinary actions.
Trust is a financial management method, a special property management system and legal behavior, and it is also a financial system. Trusts, banks, insurance, and securities together constitute the modern financial system. Trust business is a legal act based on credit, which generally involves three parties, namely the trustor who invests credit, the trustee who is trusted by others, and the beneficiary who benefits from others.
Extended information:
Trust Act
When a trust is reached, the procedures performed to constitute a legal act are trust acts. Trust behavior refers to the signing of a contract or agreement between the trustor and the trustee. In addition, making a will by the client is also a legal act and a trust act.
According to different trust purposes, different contracts need to be signed. However, for businesses that belong to the same category and occur in large quantities, such as trust deposits, it is not necessary to sign contracts one by one. Only the trust department will issue a unified contract to the entruster. A trust deposit certificate that is printed and attached with written terms, similar to a contract, is sufficient; this kind of certificate also has the effect of a contract.
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