Also known as: objects of his bounty · object of the testator's bounty · beneficiary
Written by attorneys · grounded in primary & secondary sources — see below
The persons a grantor, testator, or settlor intends to benefit through a disposition of property.
Select any source to read its text and confirm it supports the definition.
Odette Orozco pledged her ranch to a lender via deed of trust to secure repayment of a loan. She later executed a will naming her children as the objects of her bounty and devised the ranch to them. Upon default the lender foreclosed, and the trustee conveyed title free of the children's interests because the mortgage had priority over the subsequent devise.
Olga O'Neill contracted with a builder to construct a home and expressly identified her grandchildren as the objects of her bounty who would receive the completed residence. When the builder refused to perform, the grandchildren sued as intended beneficiaries to enforce the promise made for their benefit.
Onyx O'Reilly granted an access easement across his land to benefit the adjacent parcel owned by his sister, whom he regarded as an object of his bounty. Although the deed omitted the precise location, the sister's subsequent construction of a driveway in justifiable reliance on the easement prevented the grantor from denying the servitude under equitable principles.
Orion Orlov created a trust leaving an outright remainder to his disabled son as the primary object of his bounty. Because of unanticipated medical costs, the court converted the remainder into a special-needs trust that preserved assets for the son while still carrying out the settlor's original purpose.
Oakley Osei, the sole object of his grandmother's bounty under her revocable trust, consented in writing to the trustee's sale of trust real estate at a below-market price. The consent released the trustee from liability for the transaction because the beneficiary knew the material facts and was not induced by improper conduct.
Oskar Ocampo, a lifelong resident of State A, executed a will leaving his entire estate to his children as the natural objects of his bounty. Although the land was located in State B, a court applied State A's rules on charitable restrictions because the testator, his children, and the charity were all most closely connected to State A.
The term refers to the persons a testator or settlor intends to benefit, most commonly close family members. Courts consider the language of the instrument and surrounding circumstances to identify those intended recipients. The designation affects choice-of-law analysis when multiple states have contacts with the estate.
…in the common fund, but exclusive management and control is in the trust company as trustee, and neither a fiduciary nor any beneficiary of a participating trust is deemed to have ownership in any particular asset or investment of this common fund. The trust company must keep fund assets separate from its own, and in its…