2.  A trust must have property.  A trust is a method of holding title to property; a conveyancing relationship

3.  New property may come from any source unless:  Trust prohibition, or  Property unacceptable to trustee.

4.  Any transferable property:  Real (present & future)  Personal (tangible, intangible, choses in action, right to be a beneficiary, etc.)

5.  But not property the settlor cannot immediately transfer:  Non-assignable contract right  Spouse’s share of community  Property to be acquired in the future  Expectancy to inherit from someone still alive  Birk – p. 69

6.  Real Property = deed  Personal Property = possession, deed of gift, title registration, etc.  Marshall – p. 72