Property OwnershipLife EstateMEDIUM
A South Dakota property owner transfers ownership but retains a life estate. Upon the life tenant's death, the property passes to the designated person known as the:
Correct Answer
B) Remainderman
The remainderman is the person designated to receive full ownership (fee simple) of the property upon the death of the life tenant. The remainder interest is a future interest that becomes possessory when the life estate terminates.
Answer Options
A
ExecutorB
RemaindermanC
TrusteeD
Beneficiary of a willWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Property Ownership Question
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Background Knowledge for Property Ownership
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Real World Application in Property Ownership
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Common Mistakes to Avoid on Property Ownership Questions
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Related Topics & Key Terms
Related Topics:
life-estatefuture-interestreversionvested-remainder
Key Terms:
remaindermanfuture interestfee simplelife estate terminationautomatic transfer
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