Massachusetts Trust Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Massachusetts Trust, written in plain English, along with examples of how it is used.
What is Massachusetts Trust?
Massachusetts Trust is the trust formed by shareholders of a business entity by transferring their right in the business to the trust in lieu of a certificate form the trust, authorizing the trust so formed to participate in the management of the business on behalf of them . A massachusetts trust is similar to a limited partnership such that the maximum liability of the trust certificate holders are limited to the extend of shares already transferred to the trust