Ownership can be (a) Legal and vested ownership (b) Legal and equitable ownership (c) Absolute and…
Recognised classifications of ownership are legal and equitable, absolute and limited, and trust (legal) and beneficial ownership, whereas 'legal and vested ownership' is…
Choose your answer
Ownership can be
(a) Legal and vested ownership
(b) Legal and equitable ownership
(c) Absolute and limited ownership
(d) Trust and beneficial ownership
Answer and explanation
Correct answer B
Recognised classifications of ownership are legal and equitable, absolute and limited, and trust (legal) and beneficial ownership, whereas 'legal and vested ownership' is not a recognised pair (vested and contingent is the true distinction). Hence "(b), (c) and (d) only".
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