Property OwnershipLife EstateEASY
A life estate in South Dakota gives the holder the right to:
Correct Answer
B) Use and possess the property for the duration of a specified person's life
A life estate grants ownership rights for the duration of a specified person's life (the measuring life). The life tenant can use, occupy, and even rent the property, but cannot will it because the estate terminates upon death.
Answer Options
A
Own the property foreverB
Use and possess the property for the duration of a specified person's lifeC
Lease the property for 99 yearsD
Will the property to heirsWhy This Is the Correct Answer
Sign up free to unlock full analysis
Why the Other Options Are Wrong
Sign up free to unlock full analysis
Deep Analysis of This Property Ownership Question
Sign up free to unlock full analysis
Background Knowledge for Property Ownership
Sign up free to unlock full analysis
Sign up free to unlock full analysis
Real World Application in Property Ownership
Sign up free to unlock full analysis
Common Mistakes to Avoid on Property Ownership Questions
Sign up free to unlock full analysis
Related Topics & Key Terms
Related Topics:
remaindermanwastepur-autre-vieestate-hierarchy
Key Terms:
life estatemeasuring lifecannot willremaindermanlimited duration
Was this explanation helpful?
More Property Ownership Questions
Idaho water rights:
Kansas follows which recording system?
Louisiana's homestead exemption protects:
An encroachment occurs when:
An easement appurtenant in Alabama:
- → An easement by necessity is typically created when a property is in which situation?
- → A Texas property owner grants an oil company the right to drill on their land. This is called:
- → Recording of deeds in Maine is done at the:
- → Alabama's lead-based paint disclosure applies to homes built before:
- → Under Idaho Code §55-1003, what is the current homestead exemption amount that protects a homeowner's primary residence from creditors?
- → Wisconsin is a:
- → In Illinois, which deed provides the greatest protection to the buyer?
- → What is the homestead exemption amount that Oregon law provides to protect a qualifying homeowner's equity from most unsecured creditors?
- → In Vermont, joint tenancy with right of survivorship requires:
- → Pennsylvania's adverse possession statute requires occupation for:
People Also Study
Buyer Representation Agreement
8% of exam
Land Use Controls and Regulations
8% of exam
Valuation and Market Analysis
10% of exam
Financing
12% of exam