Document background
A Declaration of Bare Trust is a crucial legal instrument in Irish law used to establish and document situations where one party (the trustee) holds legal title to property or assets purely for the benefit of another party (the beneficiary). This type of arrangement is commonly used in property transactions, investment structures, and family wealth planning. The document explicitly states that the trustee holds the property as a mere nominee, with no active management duties or discretionary powers. It's particularly useful in situations requiring separation of legal and beneficial ownership, such as property purchases, holding of investments, or structuring of business assets. The Declaration must comply with Irish trust law requirements and typically includes detailed information about the trust property, parties involved, and the passive nature of the trustee's role. This document type is distinct from other trust arrangements as it provides the beneficiary with absolute control over the trust property, with the trustee acting only on explicit instructions.
