Grace signed a valid will in 2025 leaving her farm to her niece, Ava. Grace died in 2026, and the farm passed under the will through probate. How is this transfer of ownership best categorized?
Correct Answer
A) A voluntary transfer at death through a testamentary devise
A transfer under a valid will is a testamentary devise and reflects the owner's expressed intent about who should receive the real property at death. For exam purposes, that is treated as a voluntary transfer because the owner directed the disposition.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
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