Co-Ownership review 1

when two or more heirs or beneficiaries inherited an undivided property from a decedent, or when a donor makes a gift of an undivided property in favor of two or more donees.

Inheritance is subject to

Donation is subject to

tax on income received by the estate during the administration or settlement period.

refers to the period when title to the properties left by a decedent is not yet finally transferred to the heirs/beneficiaries.

is a right on property, real or personal, held by one party for the benefit of another.

allows individuals to create sustained benefits for an individual or entity

person who establishes a trust

one in whom confidence is reposed as regards property for the benefit of another person

any person or corporation that holds in trust an estate of another person or persons

person for whose benefit trust is created