If an individual confers legal title to property to another person or institution to manage the property on their behalf the individual has created a(n)___________.

Question

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By confering legal title to property to another person or institution to manage the property on their behalf, the individual has created a personal trust. A charitable trust is set up for charitable purposes, an endowment fund is a fund containing property donated to a nonprofit organization, and a mutual fund is a professionally managed investment fund.

If an Individual Confers Legal Title to Property to Another