Utah General Contractors - Business and Law Practice Exam

Can a corporation be listed as the sole owner of a property?

1. Yes

2. No

3. Only in certain states

4. Only if it's a non-profit

The correct answer is: Yes

A corporation can indeed be listed as the sole owner of a property. In legal terms, a corporation is recognized as a separate legal entity that can own property, enter into contracts, and conduct business in its own name. This capacity for ownership applies in all states, as corporate law generally allows corporations to hold title to real estate. The other options do not accurately reflect the legal standing of corporations regarding property ownership. Suggesting that a corporation cannot be listed as the owner, or can do so only in certain states or as a non-profit, overlooks the foundational principles of corporate identity and property ownership inherent in commercial law across the United States. Therefore, the correct understanding is that corporations have the legal right to hold property title solely, just as individuals do.