Sentences with word «trustor»

Allows trustor or creator of trust to submit appropriate documentation to financial institutions (for example) without losing confidentiality of contents of the trust.

The «grantor» (also called a settlor or trustor in some states) is the person who creates the trust, which may take effect during a person's lifetime or at death.

Tags: What is trustor?

Trustor definition: The trustor is granting property to other individuals (beneficiary) through a trust.

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«No judgment shall be rendered for any deficiency under a note secured by a first deed of trust or first mortgage for a dwelling of not more than four units, in any case in which the trustor or mortgagor sells the dwelling for less than the remaining amount of the indebtedness due at the time of sale with the written consent of the holder of the first deed of trust or first mortgage.

And through this strategy, which is based upon a somewhat complicated formula, the trustor may use it to avoid or minimize estate taxes.

I'm not sure I understand the second part of your comment referring to allowing the trustor to stay in the home because it seems to conflict with your suggestion that salary would be deferred until dissolution of the trust.

If the trust is to be dissolved upon the trustor's death, then you're suggesting that the employee's compensation would be deferred until the employee's death at which time it would be used by the trust estate.

The borrower is called the trustor, the lender is called the beneficiary, and the third party representative (the one who is holding the title) is called the trustee.

Because there is no court action involved, the trustee has the authority to sell the property for the beneficiary in the event the trustor fails to make his monthly mortgage payments.

Usually the trustor has 90 days to cure the loan and pay all the penalties.

An important point to clarify is that your revocable living trust WILL PROVIDE asset protection for the YOUR BENEFICIARIES upon your death (or the death of the last grantor or trustor, i.e. creator, if a joint revocable living trust).

When you establish a revocable living trust, you are allowed to be the trustor, the trustee, and the beneficiary of that trust.

A trust is a legal arrangement under which one person, the trustee, controls property given by another person, the trustor, for the benefit of a third person, the beneficiary.

However, as the trustor - vendor's equitable interest diminishes through payment by the vendee, his incentive to prevent default — as well as his incentive to prevent damage to or waste of the security — also diminishes, until the moment when his entire equitable interest has passed to the vendee.

Moreover, the beneficiary will no longer have the benefit of the built - in incentive to prompt payment and preservation of the property which the trustor - vendor's equitable interest provides.

Accordingly, in a normal case the lender will be permitted to insist on enforcement of the «due - on» clause when the trustor - vendor's entire equitable interest in the security has passed to the vendee.

As long as the trustor - vendor's equitable interest in the security remains significant, he retains a real incentive to prevent default, and the credit standing of his vendee would not afford sufficient justification for enforcement of the «due - on» clause.

In this respect the mere fact that the vendee under the installment land contract is not so good a credit risk as the trustor - vendor, while significant, would not be in itself determinative.

The trustor - vendor will now have been provided with the means to discharge the balance secured by the trust deed, so that the quantum of actual restraint on alienation caused by enforcement at this point will be minimal.

gift from the Mona Berkowitz estate: will be used as an endowment fund for a trophy in memory of the trustor and Momarv Kennels Old English Sheepdogs.

Regardless of whether you submit your application electronically, by fax, or through the mail, the SSN, ITIN, or EIN of the company's principal officer, owner, trustor, grantor, or general partner must be disclosed.

I'm not sure I understand the second part of your comment referring to allowing the trustor to stay in the home because it seems to conflict with your suggestion that salary would be deferred until dissolution of the trust.

If the trust is to be dissolved upon the trustor's death, then you're suggesting that the employee's compensation would be deferred until the employee's death at which time it would be used by the trust estate.

A trust is created when a trustor, or property owner, gives property or assets to another party.

With a life insurance trust, the property that the trustor will transfer to the trustee is in the form of a life insurance policy.

When the trustor passes away, their life insurance policy will pay a monetary death benefit to the trust.

The beneficiary of a trust is usually a relative or business partner of the trustor.

The trustee will then transfer the money from the trust to beneficiary as the trustor directed before passing away.

Trust is a type of a contract where the trustor gives the trustee the right to hold and invest assets or properties on behalf of the beneficiary.

Trustworthiness evaluations (i.e., ability, benevolence, and integrity) represent attributions that the trustor makes regarding the trustee.

Benevolence is the extent to which a trustee is believed to want to do the right thing by the trustor aside from any profit motives.

Finally, integrity concerns the extent to which the trustee's actions are influenced by a set of guiding principles that the trustor finds acceptable.

* Legal document which designates one person or institution (trustee) to control property given by another person (trustor) for the benefit of a 3rd party (beneficiary).

Synonyms include settler and trustor.

In real estate, DSTs are formed as private governing agreements under which a property or several properties are held, managed, administered, invested and / or operated for profit by a trustee for the benefit of the trustor.

The trustor is the borrower / home buyer.

Those parties are a trustor, a trustee and a beneficiary.

Charitable Lead Trust: A trust established for the benefit of a charitable organization under which the charitable organization receives income from an asset for a set number of years or for the trustor's lifetime.

It contains three parties, the trustor (the homebuyer who's borrowing money), the trustee (usually a title company) and the beneficiary, which is the lender.

This type of trust can reduce estate taxes and allows the trustor's heirs to retain control of the assets.

Yes, the Title Holding Trust is a fully revocable grantor trust that can be terminated, altered, amended or updated by the trustor and / or beneficiary at any point in time.

Upon the termination of the trust, the asset reverts to the trustor or to his or her designated heirs.

Charitable Remainder Trust: A trust established for the benefit of a charitable organization under which the trustor receives income from an asset for a set number of years or for the trustor's lifetime.

The trustor receives a charitable contribution deduction in the year in which the trust is established, and the assets placed in the trust are exempt from capital gain tax.

Irrevocable Trust: A trust that may not be modified or terminated by the trustor after its creation.