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Simple English definitions for legal terms
creator
Read a random definition: contingent-interest mortgage
A quick definition of creator:
Term: CREATOR
Definition: A creator is a person who makes a settlement of property, such as setting up a trust. They can also be called a settlor, donor, trustor, grantor, or founder. In simpler terms, a creator is someone who starts something new, like a trust or organization.
A more thorough explanation:
Definition: A creator is a person who establishes a trust or settlement of property. They are also known as a settlor, donor, trustor, grantor, or founder.
For example, if someone sets up a trust fund for their children's education, they are the creator or settlor of the trust. They are the one who established the trust and provided the property or assets to be held in the trust.
Another example would be a founder of a non-profit organization. They are the creator of the organization and may have provided the initial funding or resources to get it started.
These examples illustrate how a creator is someone who initiates and establishes something, whether it be a trust or an organization.