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Surveying FS

Category - Law & Business

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Fill in the blank: A _____ is the legal term for the sum total of legally recognized rights associated with a piece of property in which a party may own either a legal or an equitable interest.

Trust
Title
Deed
Land contract

Explanation

Answer: B - A title is the legal term for the sum total of legally recognized rights associated with a piece of property in which a party may own either a legal or an equitable interest. Property deeds are the legal instruments by which ownership of real property are assigned. Trusts are the legal agreements where one party holds property for the benefit of another party.

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Surveying FS

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