This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Define, describe, and provide an example of the different forms of personal property. What will ... (Read 117 times)

leilurhhh

  • Hero Member
  • *****
  • Posts: 560
on: Aug 3, 2018
Define, describe, and provide an example of the different forms of personal property.
 
  What will be an ideal response?

Question 2

Describe and contrast the present and future interests in a life estate.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

shaquita

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Aug 3, 2018
Answer to Question 1

Personal property can be tangible or intangible and is generally movable. Tangible personal property is something that can be touched, such as a car, jewelry or a book and is movable. Intangible personal property cannot be touched, like a bank account or professional practice.

Answer to Question 2

A present interest is the right to currently own, possess, use, and enjoy the property. A future interest is the right to own the property at some unknown time in the future. In a future interest, possession, use, and enjoyment are deferred until the future. A future interest can be a reversion to the grantor, or a remainder to a third party.


leilurhhh

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Aug 3, 2018
Both answers were spot on, thank you once again


shaquita

  • Sr. Member
  • ****
  • Posts: 324
Reply #3 on: Aug 3, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

The following terms describe types of body movement that occur at the diarthrotic joints The following terms describe types of body movement that occur at the diarthrotic joints
Among non-Muslims in the United States, wearing a head scarf, or a khimar, is a personal fashion ... Among non-Muslims in the United States, wearing a head scarf, or a khimar, is a personal fashion ...
Drug Forms and Routes of Administration Drug Forms and Routes of Administration
Distribution and Forms of Precipitation: Rain Distribution and Forms of Precipitation: Rain
Distribution and Forms of Precipitation: Graupel and Hail Distribution and Forms of Precipitation: Graupel and Hail
The CAMEO entry for chlorine. Useful information includes chemical and physical properties, personal ... The CAMEO entry for chlorine. Useful information includes chemical and physical properties, personal ...
Video: Elementary kinetics

For a complete list of videos, visit our video library