Final answer:
True, a land trust is formed to hold real estate with real property as the primary asset. Acquisition of land was a key motivator in early U.S. Indian policy. Proprietors in proprietary colonies had governing responsibilities, and sharecroppers did pay rent with shares of their crops.
Step-by-step explanation:
A land trust is indeed specifically formed to hold real estate, and the primary asset within the trust is usually real property. Therefore, the statement that a land trust is formed specifically to hold real estate and that real property is the only asset within the trust is true.
Concerning the formulation of early U.S. Indian policy, it is true that the acquisition of land was the most important motivating factor. This desire for land often led to the displacement of Native American tribes.
The statement that in a proprietary colony, the Proprietors have no responsibilities except to collect the profits is false. Proprietors were responsible for managing and governing the colony, which included various administrative duties beyond just collecting profits.
Sharecroppers were indeed tenant farmers who paid their rent with shares of their crops; therefore, the statement that sharecroppers paid their rent with shares of their crops is true.