A seller conveyed a farmhouse in May 2026 'to Elena Ruiz, trustee of the Green Family Trust, for the benefit of Samuel Ruiz.' Who holds legal title after the conveyance?
Correct Answer
C) Elena, in her capacity as trustee
When real estate is conveyed into a trust, legal title is typically held by the trustee in that representative capacity. The beneficiary receives the beneficial or equitable interest, not the record legal title needed to manage and convey the property.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
Community property is a system where property acquired during a marriage is owned equally by both spouses.
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