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.
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
'der Trust' and 'die Treuhand' can both have to do with managing assets for other people. 'Trust' is used especially for a legal form from Anglo-American law. 'Treuhand' is the German term for a similar principle: a trustee manages assets or rights in another person's interest. The words can be confused because their meanings are close. However, the context is important: in German texts, 'Treuhand' is often more natural. In addition, 'die Treuhand' can also refer to the former German Treuhandanstalt after 1990.
Die Wohnung wird bis zur Klärung des Erbes in Treuhand verwaltet.
The apartment is managed in trust until the inheritance has been clarified.
Im Vertrag steht, dass das Vermögen in einen Trust übertragen wird.
The contract states that the assets will be transferred into a trust.