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entity go
that which is perceived or known or inferred to have its own distinct existence (living or nonliving)

abstraction, abstract entity go
a general concept formed by extracting common features from specific examples

relation go
an abstraction belonging to or characteristic of two entities or parts together

possession go
anything owned or possessed

holding, property, belongings go
something owned

trust
something (as property) held by one party (the trustee) for the benefit of another (the beneficiary)

noun.possession

13 Subcategories

active trust go
a trust in which the trustee must perform certain duties
blind trust go
a trust that enables a person to avoid possible conflict of interest by transferring assets to a fiduciary
passive trust go
a trust in which the trustee performs no active duties
charitable trust, public trust go
a trust created for charitable or religious or educational or scientific purposes
Clifford trust, grantor trust go
a trust established to shift the income to someone who is taxed at a lower rate than the grantor for a period of 10 years or more
implied trust go
a trust inferred by operation of law
direct trust, express trust go
a trust created by the free and deliberate act of the parties involved (usually on the basis of written documentation)
discretionary trust go
a trust that gives the trustee discretion to pay the beneficiary as much of the trust income as the trustee believes appropriate
living trust, inter vivos trust go
a trust created and operating during the grantor's lifetime
spendthrift trust go
a trust created to maintain a beneficiary but to be secure against the beneficiary's improvidence
testamentary trust go
a trust that is created under a will and that becomes active after the grantor dies
savings account trust, savings bank trust, trust account, trustee account, Totten trust go
a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime
voting trust go
an agreement whereby persons owning stock with voting powers retain ownership while transferring the voting rights to the trustees