Exam 6: Legally Managing Property

Regarding personal property, ownership is generally assumed by its possession and it is not customary for the seller to prove their ownership rights.

A Deed of Trust is real property that is pledged to secure the repayment of a debt.

Which of the following is the formal legal document used to transfer ownership of personal property?

The most common type of rental or lease payments in hospitality is the triple-net lease where the lessee pays for all associated costs of leasing.

Which one of the following is the formal document used to transfer ownership of personal property?

The procedure, which a lessor uses to remove a lessee from physical possession of leased real property, usually for violation of a significant lease provision, is called?

Which of the following terms is used when dealing with both real property and personal property?

Chattel is considered real property.

Which of the following is a review of land records to determine the ownership and description of a piece of real property?

A grant issued by a governmental entity ensuring an inventor the right to exclusive production and sale of their invention is a?

An example of trade dress would be the unique turquoise colored boxes used by Tiffany's stores.

The Lanham Act is the major federal law that deals with leasing real property.

A Quitclaim Deed _____.

Personal property could be considered all property that is not real property.

Some common instances where title insurance has protected a buyer include the following except?

Money, stocks, and interests in securities are examples of intangible property.

Which of the following legal documents would not be used by a lender to secure collateral for a loan to buy a restaurant?

Title insurance on real property is designed to protect _____.

U.S. hotel companies seeking to register trademarks and service marks in foreign countries must go through the task of registering the marks in each and every jurisdiction it intends to use the marks because there are no short-cuts when it comes to registrations.

Using a copyrighted work for teaching or research is normally not an infringement of a copyright.