Also known as: res of the trust · trust reses · trust property · trust corpus
Written by attorneys · grounded in primary & secondary sources — see below
The identifiable property interest that constitutes the subject of a trust. A trust cannot exist without this property, which the trustee holds for the benefit of the beneficiaries.
Select any source to read its text and confirm it supports the definition.
Tristan Thompson serves as trustee of a trust holding rental properties for two siblings. When deciding whether to sell one building or renovate another, Tristan must weigh the income needs of the current beneficiary against the long-term value for the remainder beneficiary. The trust res remains intact only if Tristan balances both interests without favoring one.
Tyrone Tran transfers $200,000 into an account he designates as trust property for his niece. Because Tyrone both creates the trust and supplies the funds, he qualifies as settlor of that portion of the res. Any later addition by another person would create a separate portion attributable to that contributor.
Tiffany Torres resigns as trustee of a trust holding investment securities. Until a successor is appointed and the securities are transferred, Tiffany retains authority to sell a declining stock to prevent loss. The res stays protected during the transition period.
Timothy Tang is removed as trustee of farmland held in trust. He must immediately arrange transfer of the deeds and leases to the successor trustee rather than retaining possession. Failure to deliver the res promptly exposes Timothy to liability for any resulting damage.
Tracy Torres funds a trust with corporate bonds that generate interest. The res produces income taxed according to the trust's terms and the settlor's retained powers. Any distribution of the bonds themselves requires separate accounting from the income they produce.
Theo Thomas creates a trust of park land for a racially restricted purpose that later becomes impossible. The res reverts to his heirs because the trust purpose can no longer be fulfilled. The property leaves trust status and returns to individual ownership.
The trust fails for lack of a res. Without specific property that can be held and managed, no trust relationship arises even if intent and beneficiaries are clear.
Supporting sources
Only if it is an existing interest capable of transfer. Crops not yet grown or profits not yet earned generally cannot form the initial res, though an existing orchard or contract right might qualify.
Supporting sources
No. The underlying marital character remains even after transfer. The res is still subject to division as marital property despite the change in legal title.
Supporting sources
…land. Kuapa Pond was part of an ahupuaa that eventually vested in Bernice Pauahi Bishop and on her death formed a part of the trust corpus of petitioner Bishop Estate, the present owner. In 1961, Bishop Estate leased a 6,000-acre area, which included Kuapa Pond, to petitioner Kaiser Aetna for subdivision development. The…