private trust

A trust created for the financial benefit of one or more designated beneficiaries rather than for the public benefit; an ordinary trust as opposed to a charitable trust.

• Three elements must be present for a private trust: (1) the demonstrated intent of the settlor, (2) trust property (as res), and (3) a certain beneficiary capable of enforcing the trust.

— Also termed personal trust. Cf. charitable trust. [Cases: Trusts 1. C.J.S. Trover and Conversion §§ 1–9, 14–18.]

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