Which of the following is described as real property? A. Bulldozer B. Town Home C. Semitrailer...

Which of the following is described as real property? A. Bulldozer B. Town Home C. Semitrailer D. Yacht

Expert Solution

Answer : OPTION B

Real property is land and any property attached directly to it. It is any subset of land that has been improved through legal human actions

Bull dozer: bulldozer is a crawler equipped with a substantial metal plate used to push large quantities of soil, sand, rubble, or other such material during construction or conversion work and typically equipped at the rear with a claw-like device to loosen densely compacted materials

TOWN HOME : A townhouse or townhome is a single family home that shares one or more walls with other independently-owned units. They are often rows of uniform homes, two stories or taller. Residents own their interior and exterior walls, lawn, and roof, as well as the insurance for both their home and property

Semi trailer :

a trailer having wheels at the back but supported at the front by a towing vehicle.

Ex : articulated lorry.

Yacht:a medium-sized sailing boat equipped for cruising or racing.

ekkarill92 answered 1 year ago

Buyer and Seller entered into a written agreement for Buyer to purchase real property, which property included a home, from Seller.

Buyer and Seller entered into a written agreement for Buyer to purchase real property, which property included a home, from Seller. Under the terms of the purchase agreement, the risk of loss "shall remain with Seller until delivery of title." The purchase agreement was entered into on May 15 and called for closing on June 1, though the agreement did not say that time was of the essence. Seller chose this date for closing, in part, because that was the...

Prove the transitive property of similarity: if A~B and B~C, then A~C.

C++ Instructions The population of town A is less than the population of town B. However,...

C++ Instructions The population of town A is less than the population of town B. However, the population of town A is growing faster than the population of town B. Write a program that prompts the user to enter: The population of town A The population of town B The growth rate of town A The growth rate of town B The program outputs: After how many years the population of town A will be greater than or equal to...

Suppose an economy is described by the following relationships: C = a + b(Y-T). Consumption, C,...

Suppose an economy is described by the following relationships: C = a + b(Y-T). Consumption, C, is a function of disposable (i.e., after-tax) income, (Y -T). The terms a and b are parameters. I = c – dR where I is the investment and R is the rate of interest. The terms c and d are parameters. NX = m - ne where I is the net exports and e is the real exchange rate. The terms m and n...

Which of the following property is covered under the personal property coverage (Coverage C) of the...

Which of the following property is covered under the personal property coverage (Coverage C) of the Homeowners 3 policy? a) a pet dog owned by the named insured b) a bicycle owned by a foster child living with the named insured c) a motor vehicle owned by the named insured. d) a stamp collection insured under a separate policy

1. Which of the following are highly marketable? a. stocks b. bonds c. real estate d....

1. Which of the following are highly marketable? a. stocks b. bonds c. real estate d. a privately held business e. both Answer 1 and Answer 2 2. ___ is/are not a liquid asset. a. A savings account b. Bond mutual funds c. An interest-paying checking account d. A checking account e. A money market mutual fund 3.Generally which of these is considered best? a.Above the line deduction. b. Below the line deduction. c. Refundable credit. d. Non-refundable credit. e....

Which of the following statements regarding who gets to deduct the real property taxes when real...

Which of the following statements regarding who gets to deduct the real property taxes when real property is sold mid-year is correct? Multiple Choice The seller gets to claim the entire deduction. The buyer gets to claim the entire deduction. Whoever pays the taxes gets to claim the deduction. The deduction is pro-rated based on the number of days owned.

Which of the following is NOT true: Real property with a mortgage is considered encumbered. Mortgagers...

Which of the following is NOT true: Real property with a mortgage is considered encumbered. Mortgagers typically have secured interests in real property. Once a mortgage loan is in place, a borrower can no longer develop the property. A mortgage loan must be paid off prior to selling the underlying real property.

An auditor is recalculating depreciation on real property acquired during the year. Which of the following...

An auditor is recalculating depreciation on real property acquired during the year. Which of the following documents will provide the most relevant information regarding a property’s depreciable base? Multiple Choice Deed Bank confirmation of mortgage loan Closing statement Flood insurance policy

Sally owns real property for which the annual property taxes are$16,680. She sells the property...

Sally owns real property for which the annual property taxes are $16,680. She sells the property to Kate on April 2, 2020, for $834,000. Kate pays the real property taxes for the entire year on October 1, 2020. Assume a 365-day year. Round any division to four decimal places. Round your final answers to the nearest dollar. a. How much of the property taxes can be deducted by Sally and how much by Kate? Sally can deduct $____ and Kate...

Question