Definition of DONATIVE TRUST in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms.
Definition of DONATIVE TRUST
May be created by transfer of property in trust as gift for benefit of another person or by proper declaration of legal owner of property that he will hold it in trust for another's benefit and does not require payment of any consideration by the beneficiary. Elbert v. WaplesPlatter Co., Tex.Civ.App., 156 S.W.2d 146, 150, 151.
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That's the definition of DONATIVE TRUST in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.