Declaration of Trust
KNOW ALL MEN BY THESE PRESENTS:
This Declaration of Trust, made and executed this ___ day of ______2018 at
___________, by and between:
XXXXXXXX of legal age, American, and resident of xxxxxxxxxxxx and hereafter
referred to as the “TRUSTOR”;
-and-
XXXXXXXXX, of legal age, Filipino, single, and a resident of xxxxxxxxxxxxxxxx,
and hereafter referred to as the “TRUSTEE.”
Collectively, hereafter referred to as the “PARTIES.”
WITNESSETH: THAT –
WHEREAS, the trustee appears in the Stock and Transfer Book of xxxxxxxxx. (the
“Corporation”), a corporation organized and existing under Philippine Laws as the registered
owner of One (1) share of stock of the said Corporation (the “Share”);
NOW, THEREFORE, the PARTIES agree as follows:
1. The TRUSTEE hereby acknowledges:
1.1 The absolute title and ownership of the TRUSTOR over the property;
1.2 Her role as TRUSTEE and agent of trustor to hold naked title to the Share
for and in behalf of the TRUSTOR;
2. The TRUSTEE and the TRUSTOR agree that all income derived from or earned
on the Share shall be for the exclusive account and benefit of the TRUSTOR,
and the TRUSTEE shall deliver the same to the TRUSTOR, or to whomsoever
the latter may designate.
3. The TRUSTEE shall exercise voting rights in respect of the Share and otherwise
deal with the Share as the TRUSTOR shall request.
4. The TRUSTEE shall endorse in blank all certificates of stock issued to it by the
Corporation in respect of the Share and deliver the same to the TRUSTOR.
5. The TRUSTEE shall not sell, transfer, assign or pledge the Share or any of them
or any interest therein, except that the TRUSTEE irrevocably constitutes the
TRUSTOR as her attorney-in-fact with the power to assign, transfer, convey,
pledge, and encumber the Share in favor of any person or persons designated
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by the TRUSTOR, and for that purpose to make all necessary acts of assignment
thereof, hereby ratifying and confirming all that the TRUSTEE’s said attorney-
in-fact shall lawfully do by virtue hereof.
6. With respect to the income referred to in Part 2, the TRUSTOR warrants and
hereby undertakes to hold the TRUSTEE free and harmless from liability for
any and all taxes that may be due therein.
7. Taxes due on the Share shall be paid by the TRUSTOR.
8. The TRUSTOR shall indemnify, defend and hold harmless the TRUSTEE
and/or her representatives from and against any losses, liabilities, damages,
claims, actions, judgments, cost and expenses arising from or as a consequence
of the TRUSTEE’s holding on the Share in trust for the TRUSTOR, and for all
acts performed by the TRUSTEE pursuant to the instructions of the TRUSTOR.
9. This Declaration of Trust may be executed in any number of counterparts, each
of which when so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same Declaration of Trust. Delivery
of an executed counterpart of a signature page to this agreement by telecopier
shall be effective as delivery of an original executed counterpart of this
Declaration of Trust.
IN WITNESS WHEREOF, the PARTIES hereto have hereunto set their hands on the
date and at the place first above written.
XXXXXXXXXXXX XXXXXXXXXXXXXXXX
Trustor Trustee
Signed in the presence of:
___________________________________ ___________________________________
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ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES}
} S.S.
BEFORE ME, a Notary Public, for and in _____________________, Philippines,
this ___________day of ______________________, 20 _________, personally appeared the
following persons:
Name Passport No. Date and Place Issued
xxxxxxxxxxxxx
Trustor
xxxxxxxxxxxxx
Trustee
known to me and to me known to be the same persons who executed the foregoing
Declaration of Trust constituting of three (3) pages, including this page where the
acknowledgement is written, and they acknowledged to me that the same is their free act and
voluntary deed.
WITNESS MY HAND AND SEAL on the day first above-written.
NOTARY PUBLIC
Doc. No. ________
Page No. ________
Book No. _________
Series of _________
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