A trust is a manner of holding property where legal and equitable title is separate. [1] Generally, a trust fits into one of two general categories: (1) an express trust and (2) an implied trust.
[1] More specifically, a trust is “[t]he right, enforceable solely in equity, to the beneficial enjoyment of property to which another person holds the legal title; a property interest held by one person (the trustee) at the request of another (the settlor) for the benefit of a third party (the beneficiary).”  Black’s Law Dictionary (8th ed. 2004).