massachusetts trust

massachusetts trust
noun
Usage: usually capitalized M
: an unincorporated business organization managed like and sometimes treated as a corporation (as for tax purposes) and first popular in Massachusetts in which the business capital is held in trust under a written declaration of trust publicly recorded outlining the powers and duties of the trustees and the rights of the beneficiaries and third persons, which capital or trust property is managed by the trustees for the beneficiaries who are the owners from time to time of transferable certificates resembling corporate stock evidencing an equitable interest in the trust property and the income earned by it — called also business trust, common-law trust

Useful english dictionary. 2012.

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Look at other dictionaries:

  • Massachusetts trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. Massachusetts trust …   Law dictionary

  • Massachusetts trust — A business organization wherein property is conveyed to trustees and managed for benefit of holders of certificates like corporate stock certificates. A Massachusetts business trust is an unincorporated association organized under Massachusetts… …   Black's law dictionary

  • Massachusetts trust — A business organization wherein property is conveyed to trustees and managed for benefit of holders of certificates like corporate stock certificates. A Massachusetts business trust is an unincorporated association organized under Massachusetts… …   Black's law dictionary

  • Massachusetts Trust —    A form of limited partnership. A business in which the investors give management authority to a trustee and receive trust certificates or units documenting their investments. Because they are only owners of the certificates and are not… …   Business law dictionary

  • Massachusetts trust — style of business organization in which a property is managed by a trustee and investors buy trust units (similar to buying stock shares in a company) …   English contemporary dictionary

  • Massachusetts trust — Same as business trust …   Ballentine's law dictionary

  • trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …   Law dictionary

  • Massachusetts business trust — Companies law Company  …   Wikipedia

  • trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

  • trust estates as business companies — A practice originating in Massachusetts of vesting a business or certain real estate in a group of trustees, who manage it for the benefit of the beneficial owners; the ownership of the latter is evidenced by negotiable (or transferable) shares.… …   Black's law dictionary

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