Property may be defined as
A) an ownership interest that is limited in duration either to the life of the owner or the life of another person.
B) a trust that becomes effective during the lifetime of the person who establishes it.
C) everything that is subject to ownership.
D) everything that can be owned that is not real property.

Question

Quizplus · Accepted Answer

Property is typically defined as everything that is subject to ownership. This includes both real property (such as land and buildings) and personal property (such as vehicles, jewelry, and stocks). While options A and B describe specific types of property interests, they do not encompass the full extent of what property can include. Option D is incorrect because real property, such as land and buildings, is still considered property.

Property May Be Defined as