Week 2 Quiz

Define Real Property

• Real property refers to personal belongings.
• Real property is immovable, fixed, or permanent.

• Real property is any movable asset.
• Real property is only residential buildings.

A fixture is...

• ...a type of fastener used in construction.

• ... movable property that can be taken removed from real property.

• ... real property.

• ...real property that may once have been personal property but now is permanently attached to land or buildings.

A Grantor is...

• The person who conveys real or personal property to another.

• a financial advisor who recommends trusts
• an attorney who manages a trust
• a person who benefits from a trust

A Grantee is...

• A type of financial investment.
• The person whom real or person property is conveyed.

• The person who conveys real or personal property to another.

• A person who gives out grants.

Cody conveys Blackacre, a farm, by deed to his friend, Noah. Who is the Grantor?

• Noah

• Cody

A deed is...

• A legal document that conveys ownership of real property.

• A legal document that conveys ownership of personal property.

• A form of government regulation.
• A type of insurance policy.

In property law, Title is...

• a method of property valuation.
• a type of property insurance.
• the process of property appraisal.
• evidence of property ownership.

Interest in real property ...

• a form of property insurance
• entitles the holder of the interest to some right of the property.

• entitles the holder of the interests to the entire right of the property.

• the amount paid on a mortgage that does not go to the principal loan.

Personal Property is...

• Movable items that are not fixed to land or buildings.
• Items permanently attached to a building.
• Real estate properties like land and houses.
• only intangible assets such as stocks and bonds.

(select all that apply) An example of personal property is...

• Clothing

• contract rights

• digital assets

• fishing boat