Define: Trust

UK Accounting Glossary

Definition: Trust


Quick Summary of Trust


Ancient legal practice where one person (the grantor) transfers the legal title to an asset, called the principle or corpus, to another person (the trustee), with specific instructions about how the corpus is to be managed and disposed.



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Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/trust/
Modern Language Association (MLA):
Trust. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 16, 2020 https://payrollheaven.com/define/trust/.
Chicago Manual of Style (CMS):
Trust. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/trust/ (accessed: February 16, 2020).
American Psychological Association (APA):
Trust. PayrollHeaven.com. Retrieved February 16, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/trust/

Definition Sources


Definitions for Trust are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th December 2018.