passive 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
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References in periodicals archive ?
Faith for both sides is a passive trust in the amazing God who forgives rebels and cancels guilt even before the rebels understand the meaning of sin and learn to repent.
In analyzing all securitization trusts, bankruptcy concerns generally focus on the sale of financial assets (loans) which are deposited into passive trusts, which in turn issue notes or certificates.