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Trustees are the legal owners of the assests or land that forms the subject of a Trust, but are obliged to administer the assets or land on behalf of the 'objects' (see: Objecttrust) or the trust, that is, on behalf of a certain class of potential beneficiaries. The duties, powers and responsibilities of the trustees of an Express trust will usually be set out in writing in the Trust instrument. In addition, Equity expects the trustee to satisfy Fiduciary obligations to the objects of the trust.

Trust Law