A(n) ________ is a legal arrangement established when one person transfers title to property to another person to be held and used for the benefit of a third person.

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This describes a trust, in which the trustee holds the property for the benefit of a third person (the beneficiary). A will is a legal document that outlines a person's wishes for the distribution of their property after they die. Escheatment is the process by which property reverts to the state when a person dies without a will or any known heirs. Abatement refers to the reduction or elimination of a debt or other legal claim against a person's property.

A(n) ________ Is a Legal Arrangement Established When One Person