naked trust
- A type of trust where the trustee's role is limited to holding the property without any obligation to control, manage or use it for benefit
- The property gets handed over to the beneficiary once they reach 18 years old in a naked trust.
- A naked trust might be appropriate for someone who wants to safely store assets.
- Parents often use a naked trust to reserve funds and property for their offspring till they reach the agreeable age.
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