Your Relationship with the Bank
Did you know that the bank is the owner of your deposits?
Do I have your attention yet? Continue reading…
When obtaining a bank account for a Trust, The Trust Relationship to the Bank is what determines if it is a valid Trust. Why? Because any Trust that can be breached by the Bank is not a Trust as this defeats the very purpose of what a Trust is all about... holding and protecting property or money for the benefit of another.
When you open a bank account for yourself or for a Trust, even a Common Law Trust…
You can only be one of the following in relationship to the bank. You're either the Account holder or Account owner. The bank is the account owner. Even though some banks may deceptively call you or the Trust the account owner, all deposits become property of the bank. See excerpts of two cases below. If this is true, then why am I able to make a withdrawal? You have drawing rights (artificial rights), but what good is that if the bank can call in their own money (property) at any time? Ownership reigns supreme.
The banking agreement you signed also gives the bank power of attorney over the Trust bank account and brings the banking agreement under statutory jurisdiction. Jurisdiction is everything. One cannot serve two masters. The Trust is either under Cesar's Statutory Laws or under God's Common Law.
The bank's agreement is designed to only benefit the bank at your or the Trust's expense. Unless you have a special agreement or “special arrangement”” with the bank (see below), the Trust loses all rights. Such an agreement must be accepted and acknowledged by the bank in order to remove all terms of unconscionability. Remember, “contract is law and law is contract”.
The Invisible Trust is the only Sovereign Common Law Non-Statutory Trust that guarantees that the bank is subject to this special arrangement and assures that the Trust, not the bank retains ownership of all deposits and that the Trustee retains 100% control of the Trust. Remember, if the Trustee loses even 1% control of the Trust assets (rez) to the bank, it defeats the very purpose of what a Trust is all about and therefore you can no longer call it a Trust. This is what sets The Invisible Trust apart from all other “Common Law Trusts”… or shall we call it non-Trusts. We get you a Trust bank account that removes all prima facie assumptions as indicated below.
It is not easy to establish banking relationships and getting banks to go along with our terms but years of experience assisting in setting up hundreds of Trust bank accounts for our members with different banks around the country, we've perfected a proprietary process and unique method to get the bank to accept and acknowledge this “special arrangement” and “definite understanding” referred to below. The Invisible Trust is structured as a church Trust faith-based ministry, enjoying First Amendment protection because of its religious component which is recognized by the IRS by “mandatory exception” as tax free with no reporting requirements.
Excerpt of Caledonia National Bank v. McPherson
Money deposited in a bank without special arrangement becomes the property of the bank and the depositor becomes the creditor of the bank to the amount of the deposit. State v. Clement National Bank, 84 Vt. 167, 180, 78 A. 944, Ann.Cas.1912D, 22. It is a fundamental rule of banking law that in case of a general deposit of money in a bank, the moment the money is deposited it becomes the property of the bank and the bank and the depositor assume the relation of debtor and creditor. The same rule obtains in the case of deposits of checks, drafts and promissory notes, wherever, under the circumstances of the case, the bank becomes the owner of the commercial paper and the customer acquires the unconditional right to draw for the proceeds. 7 Am.Jur., Banks, Par. 444.
According to the majority of cases, where there is no definite understanding between the depositor and the bank as to the ownership of the paper, but it is endorsed by an unrestricted endorsement and deposited in the usual course of business with the bank, which gives credit to the depositor for the amount thereof with the right to draw thereon, the title, prima facie, passes to the bank. 7 Am.Jur., Banks, Par. 452; 9 C.J.S., Banks and Banking, § 221. The right of the bank to charge back the dishonored paper is in no wise inconsistent with the rule that it acquires title by such deposit. 7 Am.Jur., Banks, Par. 453; 9 C.J.S., Banks and Banking, § 281.
1Special arrangement. Contract is law and law is contract. Without such “special arrangement” or “definite understanding”, the Trust loses all ownership rights of the Trust's money assets and deposits, the Trustee loses control and the Trust is breached.
2Right to draw. The depositor (Trust) gets credit and may have drawing rights, but is not the owner of those deposits (funds).
3Title. Whomever has Title has ownership. Legal Dictionaries equates legal title to ownership.
4Prima Facie Definition - accepted as correct until proved otherwise.
Excerpt of Montana-Wyoming Ass'n of Credit Men v. Commercial National Bank
2. The relation between a bank issuing a cashier's check and the holder of the check is that of debtor and creditor. Same — Insolvency — Preference Claims — Deposit of Trust Fund not Known to Bank as Intended to be Special Deposit Does not Make Bank Trustee for Benefit of Cestui Que Trust. 3. The mere fact that a deposit in a bank is one of trust funds, known to the bank to be such, there being nothing, however, to indicate that it is intended as a special deposit, does not of itself make the bank a trustee of the fund for the benefit of the cestui que trust so as to give him a preference over the general creditors of the bank in case of its suspension; the deposit is a general one of which the bank becomes the owner, the transaction creating the relation of debtor and creditor between it and the depositor. Trusts and Trustees — Persons Dealing With Trustee in Ignorance of Fact That He is Trustee not Bound by Terms of Trust. 4. While those who deal with a trustee concerning the subject of his trust, with knowledge of the trust, are bound by the terms of the trust, those dealing with him in good faith and ignorant of the fact that he is a trustee or that a trust exists are not so bound…
Disclaimer: We do not offer statutory legal or IRS tax advice, neither is the information presented here classified as such, however, we do practice law and we also show you how to practice law, but God's law “Do not harm others and their property” through special trust covenant (relationship).