Legal Definitions - Trust Property

Definition: Trust property, also known as "trust res" or "corpus," refers to the property that is the subject of a trust. This property must be currently existing and identifiable. Trust property can be any type of property interest that the law recognizes as a valid property interest that can be transferred. It is a necessary component of an express trust, along with trust intent, a trustee, and definite beneficiaries.

• A house that is placed in a trust for the benefit of a specific individual or group of individuals.
• A sum of money that is placed in a trust to be used for the education of a specific person or group of people.

These examples illustrate trust property because they are both specific types of property that are being placed in a trust for the benefit of a specific individual or group of individuals. The property is identifiable and currently existing, and it is being transferred to the trust for a specific purpose.