Fundamentals on Property Ownership

Question 1

Form of ownership with complete rights.

Answer 1

Fee simple

Question 2

Percent of Filipino ownership in a foreign corporation or partnership that are allowed to acquire land in the Philippines.

Answer 2

60%

Question 3

The surface of the earth which was unimproved.

Answer 3

Land

Question 4

The land with all improvement and the rights on it.

Answer 4

Real property

Question 5

Also known as personalty, or anything portable and movable.

Answer 5

Personal property

Question 6

Personal property that will become real estate.

Answer 6

Fixture

Question 7

A fixture use for trade or business.

Answer 7

Trade fixture

Question 8

Form of ownership with complete rights.

Answer 8

Fee simple

Question 9

The land with natural and artificial improvement on it.

Answer 9

Real estate

Question 10

Fee simple where title won’t pass from one person to another until a condition is met.

Answer 10

Condition subsequent

Question 11

Title remains with new owner while the condition is met.

Answer 11

Determinable

Question 12

Ownership on the property for the duration of the life of the possessor or another.

Answer 12

Life estate

Question 13

Husband’s right on the property of wife.

Answer 13

Curtesy

Question 14

The wife right on the property of the husband

Answer 14

Dower

Question 15

Protection of a family home against creditor on being

Answer 15

Homestead

Question 16

Landlord interest on the real property.

Answer 16

Lease fee