Chapter 74: Trust law*
Restricted access

‘A trust is an arrangement recognised by law under which one person holds property for the benefit of another’ (Riddall, 2002, p. 1). This definition describes the basic ‘trust idea’ underlying the whole concept of the trust. However, as a definition of the trust, it is too wide because it could apply to a diversity of legal relationships. Included in this definition could therefore be persons such as tutors administering property for their pupils, curators for the mentally ill and agents holding property for their principals. Relationships such as these are sometimes referred to as trusts ‘in the wide sense’ (Cameron et al., 2002, p. 3) and could include trustlike institutions (i.e., not ‘proper’ trusts) in Continental Europe. In other words, there is a difference between ‘a law of entrusting and a law of trusts’ (Honoré, 1997, p. 794). A definition of the trust must therefore be narrower and more specific (De Waal, 2000, p. 548). Hayton (2001, p. 1) provides such a definition for English law: ‘A trust arises where ownership of property is transferred by a person to trustees to be managed or dealt with for the benefit of beneficiaries or a charitable purpose.’

You are not authenticated to view the full text of this chapter or article.

Access options

Get access to the full article by using one of the access options below.

Other access options

Redeem Token

Institutional Login

Log in with Open Athens, Shibboleth, or your institutional credentials

Login via Institutional Access

Personal login

Log in with your Elgar Online account

Login with you Elgar account
Edited by Jan M. Smits
Encyclopedia