In the law of trusts the term "doctrine of merger" refers to the fusing of legal and equitable title in the event the same person becomes both the sole trustee and the sole beneficiary of a trust. In such a case, the trust is sometimes deemed to have terminated (with the result that the beneficiary owns the trust property outright).
Famous quotes containing the word doctrine:
“That doctrine [of peace at any price] has done more mischief than any I can well recall that have been afloat in this country. It has occasioned more wars than any of the most ruthless conquerors. It has disturbed and nearly destroyed that political equilibrium so necessary to the liberties and the welfare of the world.”
—Benjamin Disraeli (1804–1881)