A life estate in Vermont terminates upon:
Correct Answer
B) Death of the measuring life
A life estate lasts only for the duration of the measuring life. Upon that person's death, the property passes to the remainderman in fee simple.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
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