Property Ownership
A Virginia property held in a trust is owned by:
AThe beneficiary of the trust
BThe trustee for the benefit of the beneficiary✓ Correct
CBoth the grantor and beneficiary jointly
DThe Virginia court that created the trust
Explanation
When property is held in trust, the trustee holds legal title for the benefit of the beneficiary. The beneficiary holds equitable (beneficial) interest. The trustee manages the property per the trust document.
Related Virginia Property Ownership Questions
- In Virginia, which form of co-ownership allows a co-owner to sell or will their share without the other owners' consent?
- In Virginia, an easement appurtenant benefits:
- In Virginia, 'actual possession' in an adverse possession claim requires the claimant to:
- The Virginia Land Use Assessment program allows qualifying agricultural, horticultural, forest, and open-space land to be taxed at:
- A Virginia property owner dies intestate (without a will). Under Virginia's intestacy laws, property passes to:
- In Virginia, a 'right of first refusal' in a residential lease gives the tenant:
- In Virginia, real property taxes that are unpaid can result in:
- Under Virginia's Condominium Act, who is responsible for maintaining the common elements of a condominium?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →