Property Ownership and Classification Quiz

True or false: Tangible property refers to property in which the object you touch does not have intrinsic value; rather, it is representative of something that has intrinsic value.

True or false: A mobile home is considered real property.

True or false: Ownership of real property is conveyed by a deed in which the seller is referred to as the grantee.

True or false: In a transaction between a borrower and a lender, the lender is the mortgagor and the borrower is the mortgagee.

True or false: Another name for personal property is chattel.