BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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accession
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gift
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occupancy
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intestacy
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Detailed explanation-1: -In property law, accession is a method of acquiring property by adding value to other property through labor or new raw materials. Through a property law doctrine known as ‘accession’, ownership of property naturally carries with it the right to possess all of the things that are added to or produced by that property.
Detailed explanation-2: -Lease: A contract by which the owner of real property (the landlord or lessor) grants to a person (the tenant or lessee) an exclusive right to use and possess the property, usually for a specified period of time, in return for rent or some other form of consideration.
Detailed explanation-3: -Community property can also replace a will in some states. The ability to profit from real property is a property right.