In the interest of being helpful, here's what a comment from a ridiculously smart CPA in my professional bubble:
"I hear a lot of lawyers advising that, as long as you legally own property that you do not beneficially own 100% (e.g. your name is on the account but it's not your money), you are holding property in trust, so a T3 is required." (Emphasis mine.)
This is a very conservative approach, but hopefully gives a bit of clarity.
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