Principles of Real EstateCâu 18 / 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
Giải thích
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.
Luyện miễn phí toàn bộ 100 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A private limitation placed in a deed that controls how an owner may use their property is known as a:
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