How can a trust be created?

A Trust may be created by an agreement or contract (referred to as the trust deed) under which the settlor transfers, by way of gift, property from his own patrimony to a separate and distinct patrimony. such property is held for the benefit of individuals, corporations and other trusts, called beneficiaries. The trust patrimony is administered by one or more trustees for the beneficiaries in accordance with the rules set out in the trust deed.