Virginia Real Estate Exam Practice Question
What type of ownership do most corporations use to hold real property?
Correct Answer: C
Rationale: Most corporations hold real property through ownership in severalty, which means the property is owned by a single entity (the corporation itself) rather than by multiple parties. This structure simplifies management and decision-making regarding the property.
Option A, common ownership, is incorrect as it involves multiple individuals sharing ownership, which is not typical for corporations. Option B, joint tenancy, is also unsuitable since it requires multiple owners with rights of survivorship, conflicting with corporate ownership. Option D, trust, while a valid ownership method, is not the standard for corporations, which generally prefer ownership in severalty for clarity and control.
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