ABSTRACT
A trust is an equitable device which separates legal and equitable ownership. A trustee is a person who holds legal title to property on behalf of a person or a number of people or for a charitable purpose. The person for whom the property is being held is called the beneficiary, or the cestui que trust. A beneficiary has equitable title to the property, which means that, in equity, she is considered to be the ‘real’ owner. The court of equity ‘binds the conscience’ of the trustee and ensures that she lives up to her equitable obligations.
