National Lesson 1: Property Ownership well answered graded A+

National Lesson 1: Property Ownership

Which of the following below can a landowner retain and keep ownership when selling their land to a
new buyer?



a. vertical air rights

b. surface rights

c. subsurface rights

d. all of the above - correct answer ✔✔d. all of the above



Which of the following below make up the definition of real estate?



a. Fence and shed

b. Land

c. House

d. all of the above - correct answer ✔✔d. all of the above



Personal property is considered movable objects like a table or chair?



a. True

b. False - correct answer ✔✔a. true



How is personal property transferred in a real estate transaction?



a. Mortgaged

b. Bill of Sale

c. Deed

d. Never included in the sale - correct answer ✔✔b. Bill of Sale

, A fixture is a personal property that has been converted to real property by being permanently affixed or
attached to the land or building.



a. True

b. False - correct answer ✔✔a. true



A trade fixture is a fixture placed for business purposes. By definition, which of the following below
is/are considered a trade fixture(s)?



a. Commercial freezer

b. Shrubs and trees

c. Farm crops

d. Ceiling fans in a home - correct answer ✔✔a. commercial freezer



Even though a mobile home remains personal property to an owner, that owner can attach a mobile
home to the land and it then can be considered real property depending on the local laws affecting the
decision.



a. True

b. Fasle - correct answer ✔✔a. true



Which of the following below make up the Physical Land Characteristics?



a. Immobility

b. Uniqueness

c. Permanence

d. All are correct - correct answer ✔✔d. all are correct



Economic Characteristics of land are those that give land value.