California Real Estate Practice Exam

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Which of the following is not a legal form of property ownership or real estate investment?

Partnership
Corporation
Trust
Syndicate

The correct answer is: Syndicate

A partnership involves two or more individuals who own and manage the property together. A corporation is a separate legal entity that can own property and investments. A trust allows for a third party to hold and manage the property on behalf of the beneficiary. A syndicate is a group of individuals who pool their resources to invest in real estate. Therefore, all of the other options are legal forms of property ownership and investment.