8 Questions
In community property states, what constitutes community property of both spouses?
Everything owned by a married couple
What is an example of separate property according to the text?
Inheritance acquired during marriage
What type of ownership involves each spouse having an undivided 1/2 interest in community property?
Community property
Which business organization allows real property to be owned by a business entity?
All of the above
What can be considered profits or proceeds from separate property?
Profits from community property
Which ownership type involves a business partnership formed by a contract?
Partnership
What is true about ownership in severalty?
It is exclusive ownership by one person
What is a key characteristic of joint tenancy?
'Each tenant has a right of survivorship
Test your knowledge on the structure of a corporation, including shareholders, board of directors, and corporate officers. Learn about the ownership, management control, and liability aspects associated with corporations.
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