Massachusetts Real Estate Salesperson Exam — All Questions
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1 questions
Property Ownership
A life estate gives the holder the right to use property for the duration of a person's life. When that life estate ends, the property passes to the person designated to receive it, who is called the:
- a.Remainderman✓
- b.Trustee
- c.Grantor's creditor
- d.Lessee
When a life estate ends, title passes to the remainderman if a third party is named, or reverts to the grantor (a reversion) if none is named. A life tenant may use the property but cannot leave it by will.