Chapter22_Answers - Chapter 22 Assessment Answers Matching...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 22 Assessment Answers Matching Key Terms 1. h 4. c 7. d 10. k 13. b 2. a 5. l 8. f 11. j 14. n 3. m 6. e 9. g 12. i 15. o True/False Quiz 16. T 19. F 22. F 25. T 17. F 20. T 23. T 18. T 21. F 24. F Discussion Questions 26. Real property is defined as land and anything permanently attached to it, such as buildings and structures. Personal property describes property, other than land, and is generally movable. It can be either tangible or intangible. 27. A gift that meets certain requirements is known as an inter vivos gift (between the living). A gift given by a living person who expects to die from a known cause is known as a gift in causa mortis (in contemplation of death). 28. Severalty ownership means that one person holds all the rights of ownership in a particular piece of property. A tenancy in common is a form of joint ownership of property by two or more persons. The ownership interest of any one of the owners can be sold, transferred, or inherited. A joint tenancy exists when two or more persons own equal shares of personal property. Community property, the law in some states, is that property acquired by either one of the spouses during a marriage, which now belongs to both husband and wife. 29. A building is a structure built on land. It can be permanently placed on or beneath the surface of the land. When items of personal property are added to land, or to buildings in such a way that they become a part of the building, they are known as fixtures. Shrubbery, planted trees, and satellite antennae are examples of fixtures.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Chapter22_Answers - Chapter 22 Assessment Answers Matching...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online