Property Ownership
Which of the following best describes 'real property' in South Carolina?
AAll tangible personal possessions
BLand and everything permanently attached to it✓ Correct
COnly manufactured homes and buildings
DFinancial investments and securities
Explanation
Real property (real estate) consists of land and all things permanently attached to it, including buildings, structures, and natural features like trees and water. It differs from personal property (chattel).
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Key Terms to Know
Promissory Note
A written promise to repay a loan under specified terms — the borrower's personal financial obligation in a real estate transaction.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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