In a trust, the Blank______ delivers and transfers legal title to property to a Blank______, who holds and uses the property for the benefit of a third person. (Choose ONE correct answer)Multiple choice question.settlor; beneficiarybeneficiary; trusteetrustee; settlorsettlor; trustee
Question
In a trust, the Blank______ delivers and transfers legal title to property to a Blank______, who holds and uses the property for the benefit of a third person. (Choose ONE correct answer)Multiple choice question.settlor; beneficiarybeneficiary; trusteetrustee; settlorsettlor; trustee
Solution
The correct answer is "settlor; trustee". In a trust, the settlor delivers and transfers legal title to property to a trustee, who holds and uses the property for the benefit of a third person.
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