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In this video, Professor Brett Davies, a barrister and solicitor, discusses the concept of a declaration of trust. This document allows an individual to make a private purchase, keeping their identity hidden from the vendor. For example, if someone wants to buy a particular car, like a 1986 Corvette Stingray, but wishes to remain anonymous, they can appoint a trusted person (the trustee) to make the purchase on their behalf. This way, the trustee would handle the transaction, while the actual buyer retains ownership and anonymity, preventing any direct connection to the purchase. The tutorial highlights the benefits and applications of this legal arrangement.