Settlement (trust)

In trust law, a settlement is a deed whereby real estate, land, or other property is given by a settlor into trust so the beneficiary has the limited right to the property, but usually has no right to sell, bequeath or otherwise transfer it. Instead the property devolves as directed by the settlement.

History

In most jurisdictions, settlements only confer beneficial rights under a trust. They were formerly used to create legal estates for life or in tail, or to make provision for portions for younger children.