Legal Definition and Related Resources of Trust For Sale
Meaning of Trust For Sale
It is a trust whereby the trustee is directed by the creator of the trust to sell realty and convert the same into personalty . where such a direction is contained in a will, by the doctrine of conversion , whether or not the realty of the testator has in fact been sold and converted, it will be treated as personalty so that the trustee under the will can give good title to a purchaser of that realty without the consent of the beneficiaries under the will. This fiction is based upon the equitable doctrine that equity regards that as done which ought to have been done. See conversion, equitable .
Related Entries of Trust For Sale in the Encyclopedia of Law Project
Browse or run a search for Trust For Sale in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Trust For Sale in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Trust For Sale in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Trust For Sale in the Legal Abbreviations and Acronyms Dictionary.
Related Legal Terms
You might be also interested in these legal terms: