Which of the following is typically personal property?
Correct Answer
C) A deed of trust beneficiary's interest
California follows the lien theory of security instruments, so a deed of trust creates a lien rather than an estate in land. What the beneficiary owns is the promissory note and the right to be paid, a claim that is personal property and moves by endorsement and assignment instead of by deed. Gas, mineral and water rights are interests in the land itself and are conveyed by deed, and growing trees are part of the land until they are severed.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A conditional use permit (also called a special use permit) allows a land use that is not automatically permitted by zoning but may be allowed under certain conditions. The use must be compatible with the surrounding area.
Deed restrictions are limitations placed in a deed that control how a property may be used by the current and future owners. They are a form of private land use control that runs with the land.
An easement is a legal right to use another person's land for a specific purpose without owning it. It is a nonpossessory interest in real property that typically runs with the land.
More Property Ownership Land Use Controls Questions
Which of the following words is NOT associated with the others in the group?
An owner sold a parcel of real estate to a buyer with the stipulation that the buyer was not allowed to sell alcohol from the premises. The buyer sold the property 10 years later to a buyer who converted the building into a convenience store that sold beer. Should the owner or owner’s heirs claim a right of re-entry, what would be the basis for the lawsuit?
Which of these activities can the owner of a life estate NOT do?
The highest form of property ownership in the United States is:
In California, which form of co-ownership is available ONLY to married couples or registered domestic partners?
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