Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Express trust definition

What does Express trust mean? An express trust is a trust deliberately created by a settlor (inter vivos) or by a testator (by will) to hold identified property for specified beneficiaries or purposes, rather than arising by operation of law. It is made by declaration of trust or by transferring property to trustees, and can be proved by clear words or conduct showing an intention to create a trust, provided any statutory formalities are met. The label is not defined in a single statute; it is developed in case law and used across private client and commercial practice. In England and Wales,...

Trusts in commercial transactions: legal issues, fiduciary duties and structures across property and finance (Quistclose, unit and security trusts, bonds, subordination, securitisations, pensions, EBTs)

Published by a LexisNexis Property expert

Practice notes

Trusts commonly arise in commercial transactions in two principal scenarios:

express trusts, namely a trust intentionally established as the vehicle or structure by which individuals can take part in a transaction or arrangement
imposed trusts (for example, a resulting trust or a remedial constructive trust) that arise by operation of law to provide a participant in a transaction with a remedy after a trustee’s breach of duty or the misconduct of a third party, or to prevent injustice

General issues

Where an express trust is deployed to give effect to a commercial transaction, it is crucial to establish:

who the current trustees are (which requires reviewing the trust instrument and any deeds of retirement, removal, or appointment of trustees)
the scope of their express and statutory powers (in addition to the trust instrument, you will need to consider the provisions of a wide range of statutes, some of which are discussed below)
the duration of the trust
the extent of the trustees’ statutory duties of skill and care (eg under sections 1 and 2 of the Trustee)

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Web page updated on 27/05/2026

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