TRUST
AGREEMENT
Know All by these presents:
This TRUST AGREEMENT is made this __ day of _____________ 20____ at
___________________ by and between:
_____________________, Filipino, of legal age, married and a resident of
_________________________________,
_____________________, Filipino, of legal age, married and a resident of
_________________________________,
_____________________, Filipino, of legal age, married and a resident of
_________________________________,
_____________________, Filipino, of legal age, married and a resident of
_________________________________,
_____________________, Filipino, of legal age, married and a resident of
_________________________________,
_____________________, Filipino, of legal age, married and a resident of
_________________________________,
_____________________, Filipino, of legal age, married and a resident of
_________________________________,
Hereinafter referred to as the "GRANTORS";
-And-
_____________________, Filipino, of legal age, married and a resident of
_________________________________;
Hereinafter referred to as the "TRUSTEE";
WITNESSETH:
WHEREAS, the GRANTORS and the TRUSTEE, had agreed to the following:
1. TRUST PROPERTY. The GRANTORS, desiring to create trusts for the benefit of the
their family, irrevocably assigned to the Trustee the "Trust Property" which is a portion
of Lot No. _________ located at DAS, Toledo City, Cebu, in trust, for the purposes and
on the conditions hereinafter stated.
2. DISPOSITIVE PROVISIONS. The Trustee shall hold the property for the primary
benefit of family and the Trustee shall hold, manage, and maintain the trust property,
and shall collect and receive the income if any, and after deducting all necessary
expenses incident to the administration of the trusts, shall dispose of the corpus and
income of the trusts among the Grantors and the Trustee;
3. TRUSTEES' POWERS. In the administration of the trusts, the Trustee shall hold the
trust property and divide it among the Grantors and Trustee upon demand by majority of
the Grantors;
4. LIMITATION ON POWERS. Notwithstanding anything contained to the contrary, no
powers enumerated or accorded to trustee generally pursuant to law shall be construed
to enable the Grantors, or the Trustees or either of them, or any other person, to sell,
purchase, exchange, or otherwise deal with or dispose of all or any parts of the corpus
or income of the trusts for less than an adequate consideration in money or monies
worth, or to enable the Grantor to borrow all or any part of the corpus or income of the
trusts, directly or indirectly, without adequate interest or security and consent of the
IN WITNESS WHEREOF, we have hereunto set our hands this __ day of
__________ at _______________.
__________________________ __________________________
GRANTORS GRANTORS
__________________________ __________________________
GRANTORS GRANTORS
__________________________ __________________________
GRANTORS GRANTORS
__________________________ __________________________
GRANTORS GRANTORS
_________________
TRUSTEE
ACKNOWLEDGEMENT
Republic of the Philippines)
City of Cebu ) S.S.
BEFORE ME, a Notary Public for and in the City of Cebu, personally appeared:
Name Proof of Identity
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
known to me to be the same persons who executed the foregoing instrument, consisting of three (3)
pages, including this page, and they acknowledged to me that they executed the same as their free and
voluntary act and deed.
IN WITNESS WHEREOF, I have hereunto set may hand and affixed my notarial seal this ____ day of
____________ 2014.
Doc. No. ____;
Page No. ____;
Book No. ____;
Series of 2014.
