Law 3.1 Intro to Property

A thing, tangible or intangible that is subject to ownership. 

• Property
• Secret Formulas
• Patents
• Realty

Property can be either tangible or intangible.

• True
• False

To create a valid gift, the person making the gift, the donor must make an intent to transfer ownership and deliver the property. 

• True 
• False

Most property may be acquired and transferred by contract. 

• True
• False

Accession is the right of an owner of property to an increase in that property, such as crops or farm animals.  

• True
• False

Which form of co-ownership requires that the co-owners be married?

• tenancy in common
• joint tenancy
• tenancy by the entireties
• both b and c

A requirement for transferring ownership of personal property is 

• a deed 
• delivery
• intent to transfer ownership
• both b and c

A form of co-ownership that carries the right of survivorship is 

• joint tenancy
• ownership in severalty
• tenancy in common 
• all of these

A person who receives something in a will is called 

• lucky
• an heir
• a hair
• an air

IF you die without a will you are said to have died how?

• In a state
• Intestate
• Interstate
• Intrastate