What is the difference between trusts and gifts?

To be able to differentiate the meaning between trusts and gifts we must define them to
identify where the difference might lie. Given that there is no distinct definition of the term
trusts in law this might prove difficult. A trust is defined as an equitable obligation, binding a
person (called a trustee) to deal with property over which he has control (which is called the
trust property) for the benefit of persons (who are called the beneficiaries or cestuis que trust)
of whom he may himself be one, and any one of whom may enforce the obligation. 1Blacks
law dictionary defines a gift to mean a voluntary conveyance of land, or transfer of goods,
from one person to another, made gratuitously, and not upon any consideration of blood or
money.2 From the definitions there are a few differences between a gift and a trust, A gift
involves the donor giving away the property entirely. The donor thus gives away all the rights
and liabilities in the property to the done. The done receives both legal and equitable interest
in the property and it becomes wholly his. On the other hand, a trust would means that while
the settlor is giving away the rights and liabilities in the property to a trustee, the ownership
in the property remains split. The trustee would still have the legal interest in the property
while the beneficiary acquires an equitable interest in the matter. The Trustee then
administers the trust for the beneficiary’s interest. The beneficiary’s rights in the property are
limited to the interest he enjoys. As trusts are effectively part of the overarching notion of a
gift, the equitable maxim that equity will not perfect an imperfect gift applies to all trusts in
the same way as making a straightforward gift.

What is the difference between trusts and bailment contracts?

What is the difference between a trust and an agency?

Trusts and contracts?

Trustees and executors /administrators

Private and public trust

1
A Underhill and D Hayton, Law of Trusts and Trustees (16th edn, Butterworths, 2002), p. 1

2
Blacks law dictionary