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nounmembers of a governing board
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nouna person (or institution) to whom legal title to property is entrusted to use for another's benefit
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Definition that contains trustee
- trust something (as property) held by one party (the trustee) for the benefit of another (the beneficiary)
- trusteeship the position of trustee
- mutual savings bank a state-chartered savings bank owned by its depositors and managed by a board of trustees
- trust company an organization (usually with a commercial bank) that is engaged as a trustee or fiduciary or agent in handling trust funds or estates of custodial arrangements or stock transfers or related services
- deed of trust a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note
- trustee-beneficiary relation the responsibility of a trustee to act in the best interests of the beneficiary
- passive trust a trust in which the trustee performs no active duties
- savings bank trust a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiary
- trustor (law) a person who creates a trust by giving real or personal property in trust to a trustee for the benefit of a beneficiary; a person who gives such property is said to settle it on the trustee
- trust corporation an organization (usually with a commercial bank) that is engaged as a trustee or fiduciary or agent in handling trust funds or estates of custodial arrangements or stock transfers or related services