A Trustee Is the Legal Owner of the Trust Property

question 26

Multiple Choice

A trustee is the legal owner of the trust property, and is obliged to look after it for the benefit of the:

• A)settlor.
• B)beneficiaries.
• C)shareholders.
• D)directors.

---

Definitions:

Collecting Agent

An entity or individual appointed to gather or receive payments or debts on behalf of another party.

Indorsement

The act of signing one's name on the back of a check or other negotiable instrument to legally transfer its ownership or to approve its terms.

Order Of

Typically refers to a directive issued by a court or a sequence or arrangement of items, actions, or priorities.

Stamped Imprint

A type of mark or impression made on a document or object, often for legal or official purposes, using a stamp.