The "body" of the trust (corpus is latin for "body"), this is the property that is transferred into the trust. Also know as the Trust Res.
A trust is a legal arrangement where management of property is separated from the benefit of that property. This is created when someone (the settlor), entrusts property into a trust (managed by trustee) for the benefit of another (the beneficiary).
A real estate deed that takes effect at death and allows a property owner to leave property in a way that avoids probate court proceedings after death. It is allowed in only some states. Sometimes called a beneficiary deed.
Refers to the right to name a beneficiary in a document of title which allows the beneficiary to receive the property quickly, outside of probate. In most states, securities can be registered in TOD form. In some states, you can register vehicles in this way or create transfer-on-death deeds for real estate.
A gift made by a person who believes that he or she will soon die. Also called gift causa mortis. Recovery of health may void the gift.
An agent, usually a commercial bank or trust company, appointed by a corporation to keep legal records of all the corporation's stockholders. The transfer agent updates these records when stock is transferred, issued or cancelled.
To move ownership or possession of an asset (or an interest in an asset) from one party to another. The term encompasses all methods for disposing of an asset, including by gift, sale, release, lease, and so on.
A grant by a state or the federal government indicating that a trademark has met certain statutory requirements. Federal trademark registration makes it easier for the owner to protect against would-be copiers and puts the rest of the country on notice that the mark is already taken. Registration will not occur until a mark has been used in commerce.
A piece of equipment placed on or attached to commercial real estate, which is used in the tenant's trade or business. Trade fixtures differ from other fixtures in that they may be removed from the real estate (even if attached) at the end of the tenancy, while ordinary fixtures attached to the real estate become part of it.