Fundamentals of Property Classification Quiz

Tangible property refers to physical assets like land.

Zoning laws control the use and development of land.

Trademarks are examples of intangible property, representing brands or symbols.

Surveys establish the exact boundaries of a property.

Property surveys determine and delineate the boundaries of a piece of land.

Real property includes land and its attached structures.

Personal property encompasses movable items.

Property taxes are levied to finance communal services and facilities.

License is not a type of easement, rather it's a permission to use property.

Deeds facilitate the transfer of property ownership rights from one party to another.

Intellectual property encompasses intangible assets like trademarks and patents.

Fixtures are items permanently affixed to real property, like a potted plant on a patio.

Intellectual property lacks physical form and is derived from creativity.

Easement grants specific usage rights on another's property.

Bundle of rights encompasses all legal privileges of property ownership.

Adverse possession involves claiming ownership through consistent use without permission.

Riparian rights grant access to water bodies for property owners.

Eminent domain enables the government to take private property for public projects with just compensation.

Adverse possession enables acquiring ownership of abandoned property through continuous use.