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Declaration of Trust

This document establishes a declaration of trust between a beneficiary corporation and a trustee individual. The trustee holds shares of a second corporation on behalf of and for the benefit of the beneficiary. The shares were purchased with funds from the beneficiary but placed in the trustee's name for convenience. The trustee declares they will hold the shares in trust for the beneficiary. The beneficiary grants the trustee power to register the shares under the trustee or their designee. The trustee assumes obligations related to the shares and agrees to indemnify the beneficiary from any liabilities. Both parties sign the declaration of trust.

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Kara Marcelo
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2K views2 pages

Declaration of Trust

This document establishes a declaration of trust between a beneficiary corporation and a trustee individual. The trustee holds shares of a second corporation on behalf of and for the benefit of the beneficiary. The shares were purchased with funds from the beneficiary but placed in the trustee's name for convenience. The trustee declares they will hold the shares in trust for the beneficiary. The beneficiary grants the trustee power to register the shares under the trustee or their designee. The trustee assumes obligations related to the shares and agrees to indemnify the beneficiary from any liabilities. Both parties sign the declaration of trust.

Uploaded by

Kara Marcelo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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DECLARATION OF TRUST

This Declaration of Trust made this ___ day of __ 2017 in ___ City, entered into
and executed by and between:

___________, a corporation duly organized and existing under


and by virtue of _________, with address at
______________________, represented by its
_____________________________ (hereinafter referred to as the
“BENEFICIARY”).

~ in favor of~

_______________, Filipino, of legal age, married, with address at


________________ (hereinafter referred to as the “TRUSTEE”).

WITNESSETH: THAT~

WHEREAS, _______________ is a corporation organized and existing under the


laws of the Philippines (hereinafter referred to as the “Corporation”), with an
authorized capital stock of ___________________;

WHEREAS, the TRUSTEE, existing stockholder of the Corporation, appear as


stockholder of record to __________ Shares (“Shares”) of the capital stock of the
Corporation with a total par value of ___________;

WHEREAS, the Shares were placed in the TRUSTEE’S name only for
convenience and expediency, the payment for the Shares having been made with the
funds of the BENEFICIARY, the intent being that the TRUSTEE’S shall appear as
stockholders to the Shares and will hold the Shares only for the benefit and trust for the
BENEFICIARY;

NOW, THEREFORE, for and in consideration of the foregoing premises, it is


hereby agreed as follows:

1. The TRUSTEE hereby declares that the Shares are held by him only for the
benefit of and in trust for the BENEFICIARY;

2. For this purpose, the BENEFICIARY hereby grants the TRUSTEE the power
and authority to do all acts and things necessary to register the shares in the
corporate books of the Corporation in favor of the TRUSTEE or the latter’s
designated party. The Corporate Secretary of the Corporation is likewise
given such full power and authority to do all acts and deeds necessary to
effect such transfer in the books of the Corporation, without need of any
further act or deed on the part of the BENEFICIARY.

3. The TRUSTEE shall assume all the obligations pertaining to the Shares and
shall indemnify and save the BENEFICIARY free and harmless from any and
all liabilities and damages which the BENEFICIARY may suffer by virtue of
the Shares.

[Signature page follows.]

1
SIGNATURE PAGE

IN WITNESS WHEREOF, the parties have hereunto signed this Declaration of


Trust this ___ day of __ 2019 in ___ City.

__________________________
TIN: __________
Beneficiary

Represented by:

__________________________
TIN: ___________

CONFORME:

_________________
TIN: ___________
Trustee

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