Property Ownership
When a New Hampshire property is held in a trust, the trustee holds:
AEquitable title for the beneficiaries
BLegal title for the benefit of the beneficiaries✓ Correct
CNo title; the beneficiary holds all title
DA life estate only
Explanation
In a trust arrangement, the trustee holds legal title to the property but must manage it for the benefit of the beneficiaries, who hold equitable (beneficial) title.
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Key Terms to Know
Life Estate
A freehold interest in real property that lasts only for the duration of a specified person's life.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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