This kind of trust is also referred to as a contract “Common-Law Trust” since it finds its basis in the law of contracts and does not depend on any statute for its existence.
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Property invested in the Contract Trust Organization must be fixed and irrevocable. Thus the Trustor (contracting investor) may legally be recognized as a different person even when de facto he/she may be the same human being. Trusteeship is a position created by parties at arm’s…