Executed Trust

A trust of which the scheme has in the outset been completely declared. Adams, Eq. 151. One in which the devise or trust is directly and wholly declared by the testator or settler, so as to attach on the lands immediately under the deed or will itself. 1 Greenl. Cruise, Dig. 385; 1 Jac. & W. 570.

A trust of which the scheme has in the outset been completely declared. Ad. Eq. 151. One in which the devise or trust is directly and wholly declared by the testator or settler, so -as to attach on the lands immediately under the deed or will itself. 1 Greenl. Cruise, Dig. 385; 1 Jac. & W. 570. "A trust in which the estates and interest in the subject-matter of the trust are completely limited and defined by the instrument creating the trust, and require no further instruments to complete them." Bisph. Eq.. 31. See Trust; Executory Trust. Also used when, by the statute of uses, the property passes directly to the beneficiary, being executed by the statute. See Executed Use.

A trust of which the scheme has in the outset been completely declared. Adams, Eq. 151. A trust in which the estates and interest in the subject-matter of the trust are completely limited and defined by the instrument creating the trust, aud require no further instruments to complete them. Bisp. Eq. 20; Pillot v. Landon, 46 N. J. Eq. 310, 19 Atl. 25 ; Dennison v. Goehring, 7 Pa. 177, 47 Am. Dec. 505; In re Fair's Estate, 132 Cal. 523, 60 Pac. 442, 84 Am. St. Rep. 70; Cushing v. Blake, 29 N. J. Eq. 403; Egerton v. Brownlow, 4 H. L. Cas. 210. As all trusts are executory in this sense, that the trustee is bound to dispose of the estate according to the tenure of his trust, whether active or passive, it would be more accurate and precise to substitute the terms, "perfect" and "imperfect" for "executed" and "executory" trusts. 1 Hayes, Couv. 85.

Defined under Trust in Black's Law Dictionary.

A trust of which the scheme has in the outset been completely declared. Adams, Eq. 151. <A trustin which the estates and interest in the subject-matter of the trust are completely limited anu defined by the instrument creating the trust, and require no further instruments to complete them. Bisp. Eq. 20. As all trusis are exccutory in this sense, that the trustee is bound to dispose of the estate according to the tenure of his trust, whether active or passive, it would be more accurate and precisa to substitute the terms, “perfect” and “imperfect® for “executed” and “executory” trusts. 1 Hayes, Conv. 85.

A trust is so called in respect to its creation, when the transaction by which it is created is complete, and in respect to its execution, when no further act is necessary to be done by the trustee to give eflfect to it.* 2 Crahlis Beat Prop. 517, 578, §§ 1806, 1807. See White's Lead. Eq. Cases, 1 — 31, and Am. ed. note.