A life estate in Illinois terminates upon:
Correct Answer
B) Death of the life tenant
A life estate terminates upon the death of the life tenant (or measuring life), at which point the property passes to the remainderman.
Why This Is the Correct Answer
Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
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