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Trusteeship Meaning: Definition, Examples, and Translations

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trusteeship

[trสŒหˆstiหสƒษชp ]

Definition

Context #1 | Noun

legal context

Trusteeship refers to the position or function of a trustee, who is appointed to manage property or assets for the benefit of another party. It encompasses the responsibilities of managing assets and ensuring they are used according to the wishes of the grantor. Trusteeship can also refer to the overall framework of trust management in various legal and financial situations.

Synonyms

fiduciary duty, oversight, trust management.

Examples of usage

  • He was appointed to a trusteeship over the family's estate.
  • The trusteeship managed the funds for various charitable purposes.
  • She serves in a trusteeship role for the community foundation.
  • The legal implications of trusteeship must be understood by all parties.

Translations

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Origin of 'trusteeship'

The term 'trusteeship' originates from the word 'trust', which comes from the Middle English 'trust', derived from Old Norse 'traust', meaning 'to rely on, confidence, or firmness'. The concept of trusteeship has evolved over centuries, particularly in legal and financial contexts. Historically, trusteeship arose in the medieval period with the development of feudal law, where landowners would assign trustees to manage their estate or property for the benefit of heirs or others. Over time, the legal framework around trusteeships has expanded, influencing modern practices in estate planning, corporate governance, and charitable organizations. Today, trusteeship signifies the vital role of fiduciaries who uphold the interests of beneficiaries, ensuring ethical management and stewardship of assets.

Word Frequency Rank

With rank #19,777, this word belongs to specialized vocabulary. While not common in everyday speech, it enriches your ability to express complex ideas.