Question

A principal definition of real estate is as a bundle of rights associated with the possession, use, and disposition of property. Each of the following is a fundamental characteristic of property rights EXCEPT:________.A. They are enforceable by the government.B. They apply only to tangible assets.C. They are nonrevocable.D. They are enduring.

Answer 1

Answer:

B. They apply only to tangible assets.

Explanation:

A principal definition of real estate is as a bundle of rights associated with the possession, use, and disposition of property. Each of the following is a fundamental characteristic of property rights EXCEPT they apply only to tangible assets.

There are two types of property rights, the real and personal property rights. Examples of real property rights are landed properties such as a commercial complex while examples of personal property rights are stocks and bonds, patents.

Property rights does not only apply to tangible assets such as lands but also applies to non tangible properties such as intellectual property's, patents and bonds.