oral trust

Definition of "oral trust"
  1. A form of trust established through spoken words by the trust creator or settlor, commonly used to transfer real estate as part of a deal between the settlor and the trustee
How to use "oral trust" in a sentence
  1. An oral trust was agreed upon in the meeting to transfer ownership of the property.
  2. She designated an oral trust for her son's inheritance for when he comes of age.
  3. To avoid complications, they opted for a written contract rather than an oral trust.

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