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Unformatted text preview: Examples would be life insurance, pay-on-death accounts, living trusts and joint tenancy with survival rights. 3. What are fixtures? Fixtures are items that are permanently attached to land or buildings such as a bathroom sink. 4. What is the difference between a joint tenancy and a tenancy in common? A joint tenancy is when two or more people own property together and have equal interests in the property as well as rights of survivorship. Tenancy in common is when two or more people do not share the equal right of possession and also do not have survival rights. 5. What is the difference between tangible and intangible property? Provide examples of both. Tangible property is property that can be touched such as jewelry, animals, clothing. Intangible property is property that is represented by symbol and can be touched such as a copyright, a checkbook for a checking account, stock certificates for stock shares....
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- Spring '11
- joint tenancy