West Virginia Real Estate Salesperson Exam — All Questions
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Which type of estate gives an owner the fullest bundle of rights, is of potentially unlimited duration, and passes to the owner's heirs?
- a.Life estate
- b.Estate for years
- c.Fee simple absolute✓
- d.Estate at will
A fee simple absolute is the highest and most complete estate in land: it lasts indefinitely and is freely inheritable and transferable. A life estate ends at the death of the measuring life, so it is not inheritable. An estate for years and an estate at will are leasehold (less-than-freehold) estates that give possession, not ownership, so they confer far fewer rights.
Two people own a property as joint tenants. When one owner dies, what happens to the deceased owner's interest?
- a.It passes to the deceased owner's heirs by will
- b.It passes automatically to the surviving joint tenant✓
- c.It is sold and the proceeds go to the estate
- d.It reverts to the original grantor
The defining feature of joint tenancy is the right of survivorship: on the death of one joint tenant, that interest passes automatically to the surviving joint tenant(s) outside of probate. Because of survivorship, the interest cannot be devised by will (that is the rule for a tenancy in common instead). There is no forced sale and no reversion to the grantor.