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:
“But the doctrine of the Farm is merely this, that every man ought to stand in primary relations to the work of the world, ought to do it himself, and not to suffer the accident of his having a purse in his pocket, or his having been bred to some dishonorable and injurious craft, to sever him from those duties.”
—Ralph Waldo Emerson (1803–1882)