|
|
|
 |
Loan and Mortgage Terms Glossary |
 |
|
 |
Trust:
A legal entity created to manage property for the benefit of a specific person or persons. A trust is funded when the owner (the grantor) transfers ownership of property to another (the trustee) for the immediate or eventual benefit of a third person, (the beneficiary). The person who creates a trust is called a grantor, settlor or trustor. The person designated to receive assets at the end of the trust term is called a remainderman.
|
|
|
|
|
|
|
| |
