Give an example of how a land owner can transfer a portion of the physical land, and a portion of their time to own the land.
5. How is title to real property evidenced?
6. We would all agree that a brick is personal property. Explain how a brick can become real property.
7. Why is it important to record a deed with the appropriate government agency?
8. Explain the difference between a condominium and a cooperative with respect to real estate.
9. What is the difference between a license and an easement?
10. What duties does a landowner have to an invitee? A trespasser?
11. What is a mortgage?
12. Why is it important to record a mortgage with the appropriate government agency?
14. except A has credit card debt of $3,000,000 and has no other assets. A declares bankruptcy. How much will B be able to collect? How much will the credit card companies be able to collect? Explain why having secured debt (mortgage) is important to a creditor.