4. How trust is created?

8 months ago Updated: 08 December 2022 Credit source:

A trust may be created by a trustor or by legal provisions. In event a trust is created by trustor, the trustor needs to transfer his/her property/fund to trustee through Trust Deed. Trust Deed, as its name would suggest, refers to a legal instrument stipulating in great detail as to how the trust is created, administered, managed and terminated. The trust deed must meet the minimum content requirements set out by law, and spell out the trust purposes and identity of beneficiary. In order to be valid by law, trust has to be registered with the Trust Regulator within 3 months following creation of such trust.