ACTIVE TRUST
A trust wherein the trustee is held liable for additional responsibilities. With an active trust, the given additional responsibilities can be in terms of management or control of the trust, sale proceeds, collection of rent, profits; on simpler terms, the trust property's administration.
Also known as special trust.
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Promise a firm made to an indenture or other formal debt agreement, stating some activities will or won’t be carried out. In finance, it freq ...
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