The transfer of property into a trust.
Definition from Nolo’s Plain-English Law Dictionary
Transferring ownership of property to a trustee, so the property will be held in trust. With the most common kind of revocable living trust, this transfer takes place on paper only, because the person who sets up the trust and owns the property also serves as trustee.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:16 pm