Treuhand / trust
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Treuhand
Short form of the Treuhandanstalt, a German federal agency that, after reunification in 1990, was tasked with privatizing, restructuring, or winding up the state-owned enterprises of the GDR.
Die Arbeit der Treuhand wird bis heute kontrovers diskutiert.
The work of the Treuhand is still discussed controversially today.
trust
A legal arrangement in which a person or institution (the trustee) manages assets or rights for another person (the trustor/settlor). The trustee acts in their own name, but in the interest and on behalf of the trustor.
Um seine Anonymität zu wahren, kaufte der Investor die Immobilie über eine Treuhand.
To preserve his anonymity, the investor bought the property through a trust.
The word is made up of 'treu' (loyal, faithful) and 'Hand' (hand). Figuratively, it describes a 'faithful hand' that manages another person's assets or interests.
Er übertrug die Verwaltung seines Vermögens in die Treuhand eines Anwalts.
He transferred the management of his assets into the trust of a lawyer.
When the context is German history, reunification, or the economy of the GDR, it almost always refers to the historical 'Treuhandanstalt' (Treuhand agency). In legal or financial contexts, it is about the general concept of fiduciary management.
Viele ehemalige DDR-Bürger haben eine kritische Meinung zur Treuhand.
Many former GDR citizens have a critical opinion of the Treuhand.
As the name of the historical agency, 'die Treuhand' is a key term for understanding the economic consequences of German reunification. In Germany, the word is often associated with controversial debates about privatization and job losses.
Die Geschichte der Treuhand ist ein wichtiges Kapitel der jüngeren deutschen Vergangenheit.
The history of the Treuhand is an important chapter in recent German history.
In the legal sense, the word is often used in fixed combinations. Examples are 'etwas treuhänderisch verwalten' (to manage something in trust / as a trustee), 'ein Treuhandkonto einrichten' (to set up a trust account), or 'eine Immobilie über eine Treuhand kaufen' (to buy a property through a trust).
Das Geld für die Ausbildung der Kinder wird treuhänderisch verwaltet.
The money for the children's education is managed in trust.
trust
Both Trust and Treuhand can describe the management of assets for another person. However, Trust specifically refers to a legal arrangement from Anglo-American law, whereas Treuhand is the more general German term for a fiduciary relationship. Use “Trust” for this specific legal arrangement; otherwise, usually use “Treuhand”.
Bei der Treuhand verwaltet der Treuhänder das Vermögen im Interesse des Treugebers.
In a Treuhand arrangement, the trustee manages the assets in the interest of the trustor.
In den USA wurde das Vermögen in einen Trust für die Kinder übertragen.
In the United States, the assets were transferred into a trust for the children.
