If legal and beneficial ownership vest at the same time in different persons, what is created?

• A. A Trust
• B. A Joint Tenancy
• C. A Tenancy in Common
• D. Chattels Personal

Answer: (A)

Ownership separation signals a trust: when the legal title is held by one person (the trustee) and the beneficial interest is held by another (the beneficiary), and both vest at the same time, a trust is created. The trustee holds the property for the benefit of the beneficiaries, establishing a distinct relationship from ordinary ownership. This is different from forms of co-ownership like joint tenancy or tenancy in common, where the same people hold both legal and beneficial interests together rather than one person holding legal title for others. Chattels personal refers to movable personal property, not an ownership arrangement. So the situation described points to a trust.