Definition of bare trust
Further reading
A bare trust (sometimes referred to as a simple trust) is a trust in which the beneficiary has a right to both income and capital and may call for both to be remitted into his own name. He is also entitled to take actual ownership and control of the trust property. Although there are trustees, they are only effectively nominees and must act according to the beneficiary's instructions.
References:
- Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.
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