Which of the following statements is true?

Question

Quizplus · Accepted Answer

Nominee trusts are often used by individuals seeking to conceal their ownership of property. This can be useful in situations where the individual wishes to maintain anonymity, such as in the case of a high-profile celebrity or wealthy individual. In a nominee trust, the legal title to the property is held by a trustee, who is often a third party, while the beneficial ownership remains with the person who established the trust.

Which of the Following Statements Is True