How are the terms use, possess, and occupy different with regard to rights of fee simple ownership?
What will be an ideal response?
To possess the property, one controls its use and occupancy such as erecting a fence or building a home. To use the property means one has the right to profit from the land. For example, one may construct a home and then sell it to another. Finally, to occupy the property is to live or reside on the land in any manner desired.
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a. A treaty b. Statutory law c. International law d. Law
_______ is an equitable principle asserting that one receiving a benefit at another's loss owes restitution to the other.?
A. ?Unjust enrichment B. ?Reformation C. ?Injunctive relief D. ?Promissory estoppel
Which is a legal obligation of financial institutions with which the decedent did business??
A. ?To close any demand accounts held by the decedent B. ?To encourage those who hold accounts with the decedent to withdraw funds to avoid death taxes C. ?To cancel all credit card debts D. ?To present safe deposit box contents whenever requested
Exempt assets must be turned over to the Bankruptcy trustee and are used to satisfy the debts of the person filing bankruptcy
a. True b. False