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National Lesson 1: Property Ownership well answered graded A+
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National Lesson 1: Property Ownership well answered graded A+
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National Lesson 1: Property OwnershipWhich of the following below can a landowner retain and keep ownership when selling their land to a
new buyer?
a. vertical air rights
b. surface rights
c. subsurface rights
d. all of the above - correct answer ✔✔d. all of the above
Which of the following below make up the definition of real estate?
a. Fence and shed
b. Land
c. House
d. all of the above - correct answer ✔✔d. all of the above
Personal property is considered movable objects like a table or chair?
a. True
b. False - correct answer ✔✔a. true
How is personal property transferred in a real estate transaction?
a. Mortgaged
b. Bill of Sale
c. Deed
d. Never included in the sale - correct answer ✔✔b. Bill of Sale
, A fixture is a personal property that has been converted to real property by being permanently affixed or
attached to the land or building.
a. True
b. False - correct answer ✔✔a. true
A trade fixture is a fixture placed for business purposes. By definition, which of the following below
is/are considered a trade fixture(s)?
a. Commercial freezer
b. Shrubs and trees
c. Farm crops
d. Ceiling fans in a home - correct answer ✔✔a. commercial freezer
Even though a mobile home remains personal property to an owner, that owner can attach a mobile
home to the land and it then can be considered real property depending on the local laws affecting the
decision.
a. True
b. Fasle - correct answer ✔✔a. true
Which of the following below make up the Physical Land Characteristics?
a. Immobility
b. Uniqueness
c. Permanence
d. All are correct - correct answer ✔✔d. all are correct
Economic Characteristics of land are those that give land value.
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