Property Ownership
A Connecticut property owner transfers their property to an irrevocable trust for estate planning purposes. After transfer, the owner:
ARetains full control of the property
BNo longer holds title—the trust is the legal owner✓ Correct
CMust pay a gift tax to the state
DCan reclaim the property at any time
Explanation
When property is transferred to an irrevocable trust, the grantor gives up ownership and control. The trust is the legal owner, managed by the trustee for the benefit of the beneficiaries.
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