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 32 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?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Four main models that describe the relationship between ecosystem function and biodiversity. Four main models that describe the relationship between ecosystem function and biodiversity.
Wood and wood-like synthetics are classic and attractive forms of fencing for horses Wood and wood-like synthetics are classic and attractive forms of fencing for horses
Drug Forms and Routes of Administration Drug Forms and Routes of Administration
Structural MRI can be used to provide three-dimensional images of the entire brain. (Courtesy of ... Structural MRI can be used to provide three-dimensional images of the entire brain. (Courtesy of ...
Describe the Conceptual Forecasting Framework in your own words. Describe the Conceptual Forecasting Framework in your own words.
How a seed forms How a seed forms
Video: Enzyme structure - Properties of enzymes

For a complete list of videos, visit our video library