MLchartDataset catalogue

Precatory trust

Term · Law · MLC-T-LAW-003833

An arrangement where a property owner expresses a wish or desire that the recipient of their property use it for a particular purpose, but without imposing a legally binding obligation. This arises when the language used is precatory rather than imperative, failing to create a true trust. Courts will generally not enforce a precatory trust as a legal trust.

Table 1. Record
IdentifierMLC-T-LAW-003833
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003833",
  "term": "Precatory trust",
  "field": "Law",
  "definition": "An arrangement where a property owner expresses a wish or desire that the recipient of their property use it for a particular purpose, but without imposing a legally binding obligation. This arises when the language used is precatory rather than imperative, failing to create a true trust. Courts will generally not enforce a precatory trust as a legal trust.",
  "url": "https://mlchart.com/terminology/law/precatory-trust/"
}

Record 3,859 of 5,441 in Law terminology (MLC-0107). Request the full dataset.