5 Questions
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.
False
True or false: A mobile home is considered real property.
False
True or false: Ownership of real property is conveyed by a deed in which the seller is referred to as the grantee.
False
True or false: In a transaction between a borrower and a lender, the lender is the mortgagor and the borrower is the mortgagee.
False
True or false: Another name for personal property is chattel.
True
Test your knowledge on property ownership and classification with this mini-review quiz. Answer questions on tangible and intangible property, mobile homes, and the conveyance of real property ownership.
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