Property Ownership: Understanding the Bundle of Rights, Exams of Nursing

Download Property Ownership: Understanding the Bundle of Rights and more Exams Nursing in PDF only on Docsity!

Property Ownership 1

The "rights of ownership" is the definition of _____. - correct answer ✔✔property The rights to use, possess, enjoy and dispose of something are the rights of _____. - correct answer ✔✔Ownership The rights of ownership of property are often referred to as the _____. - correct answer ✔✔bundle of rights The two types of property are _____ property and _____ property. - correct answer ✔✔real and personal Land and all that is permanently attached to it is called _____. - correct answer ✔✔real property Office and shopping centers are considered _____ property. - correct answer ✔✔commercial Schools and parks are considered _____ property. - correct answer ✔✔special purpose Any property that can be moved is called _____ property. - correct answer ✔✔personal The main characteristic of most personal property that distinguishes it from real property is that personal property is _____. - correct answer ✔✔movable Rights in real property that are held for less than a lifetime are called _____ property. - correct answer ✔✔personal Which of the following is/are personal property? - correct answer ✔✔a temporary, movable shed

The rights of a tenant under a lease of real property are classified as _____. - correct answer ✔✔personal property Which of the following is/are personal property? - correct answer ✔✔a lease on a store The system in which individuals can own land for their own lifetime but cannot pass it on to heirs is the _____ system. - correct answer ✔✔feudal The system in which individuals can own land for their own lifetime as well as pass it on to heirs is the _____ system. - correct answer ✔✔allodail The degree, quantity, nature, and extent of one's interest in land is called _____. - correct answer ✔✔estate in land The term "estate in land" refers to all of the following EXCEPT the _____. - correct answer ✔✔physical properties of the land The two types of estates in land are _____ estates and estates _____. - correct answer ✔✔freehold, less than freehold "Ownership" interest in property is called a _____ estate. - correct answer ✔✔freehold An interest in land which is held for a lifetime or longer is called a(n) _____. - correct answer ✔✔freehold "Rental" interest in property is called a(n) _____. - correct answer ✔✔estate less than freehold An interest in land which is held for less than a lifetime is called a(n) _____. - correct answer ✔✔estate less than freehold An estate less than freehold is _____ property. - correct answer ✔✔personal

An individual's rights in land are limited by the rights of _____. - correct answer ✔✔the government The government's right to take land for the public good is called _____. - correct answer ✔✔eminent domain The process used to acquire property under the right of eminent domain is called _____. - correct answer ✔✔condemnation Property taken by the government under eminent domain must be for _____. - correct answer ✔✔attempt to buy When property is taken through condemnation, the owner is entitled to _____. - correct answer ✔✔compensation The right of government to impose taxes on land is called the right of _____. - correct answer ✔✔taxation The right of government to make reasonable rules for the use of land is called _____. - correct answer ✔✔police power Zoning restrictions and building codes are enabled by the government's right of _____. - correct answer ✔✔police power The right of the state to assume ownership of property when the owner dies without a valid will or heirs is called _____. - correct answer ✔✔escheat The right of the state to assume ownership of property when it is abandoned is called _____. - correct answer ✔✔escheat The state may NOT exercise its powers of escheat when an individual _____. - correct answer ✔✔fails to pay taxes on time

Which of the following is NOT a right of government? - correct answer ✔✔attachment