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Property OwnershipLife_estateMEDIUM

Remainderman receives:

Correct Answer

B) Fee simple when life estate ends

Full fee simple ownership when the life estate terminates.

Answer Options
A
Possession during life estate
B
Fee simple when life estate ends
C
Monthly rent
D
First right to purchase

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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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Related Topics & Key Terms

Related Topics:

life estatefuture interestvested remaindercontingent remainderreversionwaste doctrineNM community propertyprobate avoidance

Key Terms:

remaindermanfuture interestremainderlife estatefee simplewastevested remaindercontingent remainderNM community propertyprobate avoidance

Related Concepts

A life estate is a freehold estate that grants ownership rights for the duration of someone's life.

Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.

Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.

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