Asked by SiYata Hackett on Apr 24, 2024
Verified
A(n) _________ is a legal arrangement in which the ownership of property is transferred to a third person to be used for the benefit of another.
A) trust
B) will
C) estate plan
D) haven
Trust
An arrangement in which property is transferred by one person (the grantor or settlor) to another (the trustee) for the benefit of a third party (the beneficiary).
Legal Arrangement
Agreements or structures established under law for managing and organizing rights, responsibilities, and relationships.
Ownership of Property
The legal right or title to possess, use, and enjoy a specified piece of land or goods.
- Gain insight into the critical role of legal terms and protocols in multiple law sectors.
Verified Answer
Learning Objectives
- Gain insight into the critical role of legal terms and protocols in multiple law sectors.
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