passive trust

(redirected from Naked Trust)
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Noun1.passive trust - a trust in which the trustee performs no active duties
trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"
active trust - a trust in which the trustee must perform certain duties
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
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