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:
“It has been an unchallengeable American doctrine that cranberry sauce, a pink goo with overtones of sugared tomatoes, is a delectable necessity of the Thanksgiving board and that turkey is uneatable without it.... There are some things in every country that you must be born to endure; and another hundred years of general satisfaction with Americans and America could not reconcile this expatriate to cranberry sauce, peanut butter, and drum majorettes.”
—Alistair Cooke (b. 1908)