Lesson 10

Question 1

Trust

Answer 1

A temporary, conditional, or permanent fiduciary relationship in which the legal title to, and control of, property is placed in the hands of a trustee for the benefit of another person

Question 2

Ownership Structures

Answer 2

Co-ownership, divided ownership, corporation, trust, general partnership, limited partnership

Question 3

Ownership Criteria

Answer 3

Taxation status, investors’ liability, divisibility and liquidity, management