Property Ownership
A Nebraska property held in an irrevocable trust is owned by:
AThe grantor who created the trust
BThe trustee on behalf of the beneficiaries, with the grantor having no ownership or control✓ Correct
CThe beneficiaries equally as tenants in common
DThe Nebraska government as the ultimate trust supervisor
Explanation
In an irrevocable trust, the grantor permanently transfers ownership to the trustee to hold for the beneficiaries. The grantor cannot take back the assets or control the trust — it is a complete transfer for tax and estate planning purposes.
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