A trust contract is a formal contract by which a “trusted” gives one or more “agents” the ownership rights of one or more assets. It is a document that defines the purpose of the creation of the trust; Achievement that ends trust Details of assets in the trust The limits and powers of all agents; Reporting obligations and other provisions of directors; and, if necessary, the remuneration of directors. In a land parcel contract, the owner of the property retains all the rights, which means that he can rent, sell or develop the property in question. A great advantage of a land trust contract is that it grants anonymity to the owner of the property. This is due to the fact that the name of the position of trust is displayed in all public records as the owner of the property. D. If Grantor`s wife has died, when grantor`s oldest living child reaches the age of twenty-five (25) years, the trustees divide that trust into as many equal parts as there are beneficiaries, then the living children and the Grantor survive by spending, and each share is a separate trust. Subsequently, directors distribute the income and/or principal to the beneficiaries of each trust in accordance with the standards and rules established in paragraphs A, B and C. Subsequently, as soon as each child of the fellow reaches the age of twenty-five (25 years), the directors freely and without any confidence distribute half of the trust of that beneficiary to that child. Subsequently, when the beneficiary reaches his thirties (30 years), the directors distribute the rest of his trust to him and the trust of that beneficiary ends.
Notwithstanding the above provision, the administrators allow each child to choose, on written instruction to the administrators, at the time when his or her trust is distributed to him or her in whole or in part, so that that this estate remains in confidence, in accordance with the provisions and provisions of that time, for the balance of his or her life or until he or she requires that the agent, the accumulated income or part of it be distributed to him, or part of it. In addition, any beneficiary may, on a voluntary basis, pass on other goods of his own directly. In addition, each beneficiary may voluntarily transfer other assets belonging to him or her trust, which is held and managed as part of his or her ongoing trust. In the event of the death of a child of the Grantor during the period during which the trust continues, the directors will immediately hold their assets on the grantor or on their estate. B. The objective is to allow available trust funds to remain temporarily un invested or, at its sole discretion, to invest these funds in a savings account or certificates of deposit in a bank or credit union. C. Receiving and retaining all types of property, whether or not it is received by the donor`s means of thought; or others, over the course of life, or by will, and in particular in trusts, to receive and retain shares held in narrow companies and non-performing real estate, regardless of where they may be located, without liability and without regard to the share that such property or property, held in this manner, may relate to the entire amount of the trust and whether those assets belong to the class in which the directors are normally authorized by law.