Thomas wants to deed his Buffalo property to his daughter Maria, but retain the right to live there for the rest of his life. What type of estate should Thomas convey to Maria in the deed?
Correct Answer
B) Fee simple subject to Thomas retaining a life estate
Thomas should convey a fee simple estate to Maria while retaining a life estate for himself. This creates a situation where Maria owns the fee simple title (and will have full ownership when Thomas dies), but Thomas retains the right to occupy and use the property during his lifetime.
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Previous Question
Lisa receives a deed to property in Syracuse that contains the covenant of quiet enjoyment. Two years later, a neighbor successfully proves they own a 10-foot strip of Lisa's backyard through adverse possession. Under New York law, which party may be liable to Lisa for breach of covenant?
Next Question
Patricia executes a deed conveying her Rochester property to her son David, but she keeps the deed in her safe deposit box and tells no one about it. Patricia dies six months later, and David discovers the deed while settling her estate. Under New York law, what is the status of this deed?