Original sentence: A trust is a relationship whereby property is held by one party for the benefit of another.A trust is created by a settlor, who transfers property to a trustee.An owner of property, that places property into trust turns over part of his or her bundle of rights to the trustee, separating the property's legal ownership and control from its equitable ownership and benefits.Courts can reverse self dealing actions, order profits returned, and impose other sanctions.In most jurisdictions, this requires a contractual trust agreement or deed.The trust is governed by the terms under which it was created.The trustee holds that property for the trust's  beneficiaries.The trustee is given legal title to the trust property, but is obligated to act for the good of the beneficiaries.The trustee may be compensated and have expenses reimbursed, but otherwise must turn over all profits from the trust properties.The trustee may be either a individual, a company, or a public body.There may be a single trustee or multiple co-trustees.This may be done for tax avoidance reasons or to control the property and its benefits if the settlor is absent, incapacitated, or dead.Trustees who violate this fiduciary duty are self-dealing.Trusts are frequently created in wills, defining how money and property will be handled for children or other beneficiaries.Trusts exist mainly in common law jurisdictions and similar systems existed since Roman times
Edited sentence: In common law legal systems, the law of equity defines a trust as an enforceable three-party fiduciary relationship whereby the first party transfers title of property to the benefit of a second party that a third party holds title in trust for the benefit of.Trust law is a very old and complex subject, which has evolved differently in different jurisdictions