Real estate trust definition
Real estate trust means an arrangement evidenced by a writing, the purposes of which include the ownership of real estate and the creation and management of a condominium, under which arrangement one or more trustees are empowered to hold legal title to real estate for the benefit of beneficiaries. Trustees may also be beneficiaries under a real estate trust; [PL 1981, c. 699 (NEW).]
Real estate trust means an unincorporated business trust organized and operated in conformity with the Real Estate Trust Act;