Use ‘bare trustee’ in a sentence | ‘bare trustee’ example sentences
1- The administration of the estate was completed and the executors now held the shares as bare trustees for two beneficiaries.
2- Q (a) It appears the Trustee is more than a bare trustee so that it may be registered.
3- It is questionable whether a nominee company could come within both the definition of operator in P-106 and the definition of bare trustee in P-015.
4- The bare trustee would not be seen as carrying on any commercial activity with respect to the trust property, and thus the trust would not be eligible to register.
5- The sole duty of a bare trustee would be to convey legal title to the trust property on demand of and according to the instructions of the beneficiary as provided for within the trust instrument.
6- Therefore, the bare trustee is not seen as carrying on any commercial activity with respect to the trust property, and it is the beneficial owner, rather than the trust, that would be required to register.
7- Thus, if a trustee of a family trust or a nominee or bare trustee or even an agent receives rent there can be a liability to income tax on him (normally just at the basic rate but sometimes at the additional rate).
8- Trustees in 1 above are generally treated as a wholly separate entity for tax purposes; in the case of a bare trustee , nomineeship and agency, the acts of those persons will generally be treated as the acts of the beneficial owners or principals.
9- This may have been the feoffees carrying out the secret wishes of the king, expressed to them verbally as his bare trustees .
10- A bare trustee is someone who holds assets for the benefit of a third party purely on personal trust, no legal agreement or documentation existing.
11- Towards the end of his life, and of the king’s, when the Privy Chamber financial system was in operation, Hugh Denys purchased interests in several manors, in some possibly as a bare trustee for another beneficial owner.
12- That is to say the King must have had absolute confidence in him that he would not misappropriate the funds, for as a bare trustee no written agreement would have existed.
13- It is clear that Denys re-invested these funds in real-estate as a bare trustee for the King, using a group of feoffees many of whom were close to the King.
14- The shares were put in the mother’s name on behalf of the grandchildren, who acted as a ” bare trustee “, meaning that even though the shares were in the mother’s name, the grandchildren were the beneficiaries and have the right to the capital and income.
15- Instead of being a bare trustee his position is analogous to that of a trustee of a settlement of which he is one of the beneficiaries.
16- It is unlikely that a bare trustee could come within both the requirements of an operator in section 273 and P-106 and the understanding of what is a bare trustee in P-015.
17- It is unlikely that a bare trustee could come within both the requirements of an operator in section 273 and P-106 and the understanding of what is a bare trustee in P-015.
18- Policy Statement P-015 Treatment of Bare Trusts Under the Excise Tax Act explains the CRA’s position on bare trusts and the ability of a bare trustee to register.
19- In the CRA’s view, can the same numbered company wear two hats, and be both a bare trustee and an “operator”?
20- Some clients have set up joint ventures with a numbered company as a bare trustee holding the property, and the same numbered company registering for GST and acting as the “operator” of the joint venture.
21- As discussed in GST/HST Policy Statement P-015, Treatment of Bare Trusts under the Excise Tax Act , a bare trustee does not have any independent power, discretion or responsibility pertaining to the trust property.
22- trustees of, say, an accumulation and maintenance trust or a discretionary trust or a life interest trust; 2. bare trustees or nominees; and 3. agents.
23- ‘ bare trustee ‘ means, in short, a person who holds the deposit on trust for another person who has the exclusive right to direct how it shall be dealt with: section 106.
24- ‘Where a deposit is held for any person or for two or more persons jointly by a bare trustee , that person or, as the case may be, those persons jointly shall be treated as entitled to the deposit without the intervention of any trust.
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Related Words:
trust fund – unit trust – charitable trust – position of trust – breach of trust – trusted – trustee – bare trustee – active trustee – constructive trustee – trusteed – trustees – trusteeship – trusteeships – trustful –
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