An arrangement in which property is transferred by one person (the grantor, or settlor) to another person for the benefit of a third party (the beneficiary) is called a(n)

Name: An arrangement in which property is transferred by one person (the grantor, or settlor) to another person for the benefit of a third party (the beneficiary) is called a(n)
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Question

Quizplus · Accepted Answer

A trust is the correct term for an arrangement where property is transferred by a grantor to a trustee for the benefit of a beneficiary.

An Arrangement in Which Property Is Transferred by One Person