Principles of Real EstatePregunta 18 de 100
A life estate is an ownership interest that:
a.Lasts forever and passes to heirs
b.Automatically converts to a lease after ten years
c.Is always held by a corporation
d.Lasts for the duration of a specified person's life
Explicación
A life estate grants ownership for the lifetime of a named person, after which title passes to the remainderman or reverts to the grantor. The life tenant may use and profit from the property but cannot commit waste. It cannot be willed because it ends at death.
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