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A Trust Is an Arrangement Whereby Title to Real And/or

question 49

True/False

A trust is an arrangement whereby title to real and/or personal property is transferred by its owner (the Trustor)to a beneficiary.


Definitions:

Monthly Mortgage

The scheduled monthly payment towards the principal and interest of a mortgage loan.

Sublet

The act of leasing an apartment or house from a tenant rather than directly from the landlord or property owner.

Mortgage

A loan taken out by people to purchase a house.

Co-op

A cooperative, which is an organization owned and operated by its members who share the benefits.

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