Personal property,also referred to as ___________, is anything other than land that can be the subject of ownership, including stocks, money, notes, patents, and copyrights, as well as intangible property.
A. movable property
B. immovable property
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Personal property is considered to be lost if the owner has ______ parted with it and does not know its location. Mislaid property is that which an owner ________ places somewhere with the idea that he will eventually be able to find it again but subsequently forgets where it has been placed. Abandoned property is property to which the owner has intentionally relinquished all rights.
A. involuntarily… intentionally
B. intentionally… involuntarily
A Bailment is the rightful temporary possession of goods by an individual other than the true owner. The individual who entrusts his property into the hands of another is called the ______. The person who holds the property is called the _______.
A. bailee…bailor
B. bailor…bailee
Adverse possession is a method of ______ to real property by the actual, open, hostile, and continuous possession of it to the exclusion of its true owner for the period prescribed by state law.
A. gaining legal title
B. vesting legal title
A _______ is the ownership of land for the duration of a person's life. In legal terms it is an estate in real property that ends at death when ownership of the property may revert to the original owner, or it may pass to another person. The owner of a life estate is called a "life tenant".
A. life estate
B. fee tail estate