A Trust Is Created When a Grantor Transfers Property to a Trustee

question 24

True/False

A trust is created when a grantor transfers property to a trustee for the benefit of one or more people.

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Definitions:

Technological Revolution

A period of rapid technological change and innovation that significantly alters industries, economies, and societies.

Scientific Revolution

A period of significant advancements and developments in the fields of science during the 16th and 17th centuries, fundamentally changing the understanding of the natural world.

Postindustrial Revolution

A phase of societal development marked by a shift from manufacturing-based economies to service-oriented, information-based economies.

Primary Sector

The part of the economy that involves the extraction of raw materials from the environment, such as agriculture, fishing, and mining.