Declaration of Trust
This document is used when one party (the Trustee) is holding certain property in trust for another (the Owner). The declaration of trust created in ‘Sign Here’ is a “bare” or “simple” trust declaration, meaning that the Trustee has no independent powers, discretion, or responsibilities other than to exercise reasonable care over the property. This may include maintaining or investing the property for the Owner. The Owner is sometimes called the Beneficiary.
