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equitable ownership
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equitable ownership

trust law
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In Anglo-American law, a trust involves a relationship where one party manages property for the benefit of another. This creates a division between legal and equitable ownership. The trustee holds legal title and has the power to manage the property, while the beneficiary has the right to receive the benefits from it. The trustee has a fiduciary duty to act in the beneficiary's best interest. Trusts are often created through a formal instrument, such as a deed or will, by a settlor. Courts can also impose trusts to remedy legal wrongs.1

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