Walter holds a life estate in a farmhouse in Autauga County, Alabama. The remainder interest belongs to his nephew, Terrence. Walter wants to sell the property outright to a third-party buyer. Which statement BEST describes Walter's ability to do so under Alabama law?
Correct Answer
B) Walter can only convey his life estate interest; the buyer's ownership would end upon Walter's death.
A life tenant in Alabama can convey their interest, but they can convey no more than what they hold — a life estate measured by Walter's life (or, if a pur autre vie estate, by another measuring life). A buyer would receive only a life estate interest, and their ownership rights would terminate upon Walter's death, at which point Terrence's remainder interest would vest in possession. Walter cannot unilaterally convey Terrence's remainder interest.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
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