SETTLOR

The term settlor is attributed to the person (individual or corporate) that, on the inception of a trust, transfers the legal ownership of an asset(s) to the trustees. However, a person(s) that contributes or transfers an asset(s) to a trust after its inception may also be referred to as a settlor, because of the provisions that may exist in certain statutory legislation, e.g. a Tax’s Act, within a particular jurisdiction. The binding equitable obligations placed upon the trustees by the settlor, dictating the manner in which they may deal with the property transferred, is reflected in a document known as a Trust Deed or Deed of Settlement. The assets settled on trust can take the form of cash, land, property, shares and personal belongings such as antiques or anything of value.

Crossman Trust Company Limited PO Box 1, Portland House, Station Road, Ballasalla, Isle of Man, IM99 6AB, British Islands. Telephone: +44 (0)1624 825805 or 822816, Fax: +44 (0)1624 824570, E-Mail: mail@crossmantrust.com