Section 3: Ownership Of Real Property

11 Questions | Total Attempts: 203

SettingsSettingsSettings
Please wait...
Real Property Quizzes & Trivia

Questions and Answers
  • 1. 
    Ownership of Real Property is referred to as ____.
    • A. 

      Ownership

    • B. 

      Title

    • C. 

      Possession

    • D. 

      Leasehold

  • 2. 
    Which of the following are legal entities? (Check all that apply)
    • A. 

      An individual

    • B. 

      A government agency

    • C. 

      A corporation

    • D. 

      A partnership

    • E. 

      A trust

  • 3. 
    All legal entities have all of the following legal capacities EXCEPT ____.
    • A. 

      Own property

    • B. 

      Enter into agreements

    • C. 

      Incur and pay debts

    • D. 

      Vote

    • E. 

      Sue and be sued

  • 4. 
    A real propery owner that owns all rights to their property has ____ ownership.
    • A. 

      Total

    • B. 

      Complete

    • C. 

      Fee Simple

    • D. 

      Unchallenged

    • E. 

      Leasehold

  • 5. 
    The owners of an LLC are called what?
    • A. 

      Owners

    • B. 

      Partners

    • C. 

      Members

    • D. 

      Proprietors

  • 6. 
    The person who receives the proceeds of a trust is known as the ____.
    • A. 

      Trustee

    • B. 

      Beneficiary

    • C. 

      Trustor

    • D. 

      Member

  • 7. 
    True or False. A legal entity can only be owned by an individual person.
    • A. 

      True

    • B. 

      False

  • 8. 
    Thanks to the county _____, there is a paper trail that allows us to see the chain of ownership of real property.
    • A. 

      Assessor

    • B. 

      Recorder

    • C. 

      SOS

    • D. 

      GIS

  • 9. 
    Which of the following is an LLC?
    • A. 

      Storage Select, LLC

    • B. 

      Billy & Gena's Storage, LP

    • C. 

      Johns Storage, Inc.

    • D. 

      The Harrison Family Revocable Trust

  • 10. 
    True or False. Once we find a legal owner, our seaerch for the actual owner is complete.
    • A. 

      True

    • B. 

      False

  • 11. 
    What is your favorite song?
Back to Top Back to top