What term describes property owned by a trust?

The term "Trust Property" is the correct designation for property that is owned by a trust. A trust is a legal arrangement where property is held by one party (the trustee) for the benefit of another (the beneficiary). The property designated within the trust is referred to as trust property, emphasizing its ownership structure.

Trust property encompasses various types of assets, including real estate, financial accounts, and personal property, which are managed according to the terms set out in the trust document. This term ensures clarity in discussions about the legal rights and responsibilities associated with the property held in trust, distinguishing it from personally owned property by the trustee or beneficiaries.

Other terms, like "Beneficiary Property," might suggest ownership by the beneficiary rather than the trust itself. Similarly, "Life Estate Property" pertains to a specific kind of property interest that allows someone to use the property during their lifetime, but does not necessarily connect to the context of a trust. "Shared Trust Property" is also not a standard legal term in this context, as it doesn't accurately define the ownership of property within a trust framework. Thus, "Trust Property" is the most appropriate and technically correct term.