Gift in Trust Law and Legal Definition

Gift in trust is a gift that withholds the legal title from the donee. Legal title may be transmitted to a third person, or it may be retained by the donor, but in either case the equitable title has gone from him, and unless the declaration of trust contains the power of revocation, or the wide discretion of chancery attaches, it leaves him powerless to extinguish the trust. [Bath Sav. Inst. v. Hathorn, 88 Me. 122, 128-129 (Me. 1895)].