unitrust
noun Date: 1970 a trust from which the beneficiary receives annually a fixed percentage of the fair market value of its assets

New Collegiate Dictionary. 2001.

Look at other dictionaries:

  • unitrust — A right of property, real or personal, held by one person, the trustee, for the benefit of another, the beneficiary, from which a fixed percentage of the net fair market value of the assets, valued annually, is paid each year to the beneficiary.… …   Law dictionary

  • unitrust — uni·trust …   English syllables

  • unitrust — ˈyünə̇ˌˌ noun Etymology: uni + trust (I) : a trust from which the beneficiary receives annually a fixed percentage of the fair market value of its assets …   Useful english dictionary

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  • trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …   Black's law dictionary

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