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What is the legal capacity of a company?
The company as juristic person has rights, duties and responsibilities as an individual person. The juristic person can enter into any contract and be bound to it.
Is a trust a juristic person?
No, a trust is not a juristic person. Only in matters of taxation and insolvency can they be sued or otherwise litigated. In ALL other matter the trustees are personally responsible for juristic acts, debts etc.
What are the duties of a juristic person for a condominium?
From your description, 'juristic person' sounds like a person asked to sit on a committee to adjudge resident actions vis-a-vis the governing documents. Read your governing documents to determine the duties and responsibilities of the officer to whom your committee reports. Then ask that officer to clearly state your duties.
Can a second cousin be a trustee?
Certainly, any reliable person can be named a trustee.
When does a person need a trustee?
In bankruptcies a trustee is needed in all cases to administer the assets or determine that there are no assets. The court appoints the trustee in chapter 7 and 13. The creditors determine who will act as a trustee in chapter 11, usually. A trustee is needed if a person establishes a trust.
Can the same person be both the beneficiary and the trustee of a blind trust?
No. The trustee has full control over the assets in the trust. In a 'blind trust' the trustee must be completely independent. If the beneficiary is the trustee then the trustee is not completely independent.
Can there be a trustee and beneficiary to an irrevocable trust?
A trustee and a beneficiary are essential to a trust. Without a trustee and a beneficiary there is no valid trust. They should not be the same person.
How can you find information on a persons living trust?
If the person is deceased, you can contact the trustee if you know who the trustee is.
Can you refuse to be a trustee?
Yes. When a person is named as a trustee there is generally an acceptance executed by the trustee and filed with the trust. You only need to make if known you do not wish to serve and the trustor can name a different trustee.
How is juridical person differ from a natural person?
A "juristic person" is synonymous with a "juridical person", "legal person" or "artificial person". Such persons are created, either by obtaining the express approval of the legislature or by following special procedures for the creation of such persons. Juristic persons may also be known as companies, corporations, incorporations, societies, associations or similar terms depending on local legislation. The term "non-juristic person" is somewhat unusual, but would normally be interpreted as meaning a person that is not created but who is born. A synonym would be "natural person".
Delegate vs trustee?
A delegate is a person who represents a whole party. A trustee is a person who is given legal ownership of something for someone else benefit.
Can the trustee and beneficiary be the same person in case of private trust?
If there is (1) more than one trustee; and, (2) the trustee-beneficiary cannot act as trustee unilaterally; and (3) the other trustee is not a beneficiary of the trust, yes. If the the trustee is also designated the beneficiary, the trust fails as illusory.
