Indicate whether each of the following statements is true or false by writing T or F in the answer column.
1. “Property” refers to both personal and real property. 1. ___________
2. Fixtures are additions to personal property. 2. ___________
3. Personal property can be either tangible or intangible. 3. ___________
4. There is no distinction between lost and mislaid personal property. 4. ___________
5. A finder of personal property has a responsibility to try to return the property to the rightful owner. 5. ___________
6. Title to abandoned property resides with the state. 6. ___________
7. Some state statutes provide that property acquired before a marriage is the community property of both husband and wife. 7. ___________
8. An easement is the right or interest in land granted for the benefit of one party to make beneficial use of the land of another. 8. ___________
9. The person who holds a life estate in real property can sell absolute ownership or pass it on to his or her heirs. 9. ___________
10. A grantor of a life estate in real property maintains a reversion estate. 10. ___________