Lesson 10 Flashcards
1
Q
Trust
A
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
2
Q
Ownership Structures
A
Co-ownership, divided ownership, corporation, trust, general partnership, limited partnership
3
Q
Ownership Criteria
A
Taxation status, investors’ liability, divisibility and liquidity, management