Massachusetts Trust

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Massachusetts Trust

A trust whereby the trustee or trustees run a business on behalf of beneficiaries. That is, the trustees act as the managers and the beneficiaries act as shareholders. Beneficiaries may sell their position as beneficiaries. The trustees own all property associated with the business. Income from a Massachusetts trust may be taxed more favorably than other income. The term derives from the first such trust, which was formed in Massachusetts in the late 19th century to avoid local real estate regulation. It is also called a business trust or an unincorporated business organization.
References in periodicals archive ?
Accordia Golf Trust is a business trust focused on investments in golf course assets in Japan.
the trustee-manager of Accordia Golf Trust, said: Accordia Golf Trust is the first business trust comprising investments in golf course assets in Japan to be listed on SGX.
This is SGX's first golf course business trust, and it demonstrates the flexibility of our product structure for fund raising by different types of suitable assets.
The HPH Trust is the world's first publicly listed container port business trust.
Mr Canning Fok, Chairman of the Trustee-Manager, said, "This is a key milestone for the Hutchison group and we are very excited to list the first container port business trust in Singapore.
The Tax Court also found that the transfer of assets to the business trusts satisfied the requirement for full and adequate consideration in money or money's worth following the reasoning in Bongard:
Thus, the transfers to the business trusts were held to be bona fide sales for adequate and full consideration, so that Sec.
FleetBoston Financial Corporation said today that the trustees of its subsidiary business trusts, Fleet Capital Trust I, III, IV, VI, VII and VIII, have declared quarterly distributions on their trust preferred securities as follows: $.
FleetBoston Financial Corporation said today that the trustees of its subsidiary business trusts, Fleet Capital Trust I, III, IV, VI and VII have declared quarterly distributions on their trust preferred securities as follows: $.
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