Exam (elaborations)
Property Ownership 1 questions with complete solutions
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Property Ownership 1 questions with complete solutions
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Property Ownership 1The "rights of ownership" is the definition of _____. - correct answer ✔✔property
The rights to use, possess, enjoy and dispose of something are the rights of _____. - correct answer
✔✔Ownership
The rights of ownership of property are often referred to as the _____. - correct answer ✔✔bundle of
rights
The two types of property are _____ property and _____ property. - correct answer ✔✔real and
personal
Land and all that is permanently attached to it is called _____. - correct answer ✔✔real property
Office and shopping centers are considered _____ property. - correct answer ✔✔commercial
Schools and parks are considered _____ property. - correct answer ✔✔special purpose
Any property that can be moved is called _____ property. - correct answer ✔✔personal
The main characteristic of most personal property that distinguishes it from real property is that
personal property is _____. - correct answer ✔✔movable
Rights in real property that are held for less than a lifetime are called _____ property. - correct answer
✔✔personal
Which of the following is/are personal property? - correct answer ✔✔a temporary, movable shed
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