Property OwnershipEASY
Which statement is TRUE regarding a life estate?
Correct Answer
C) It may be created by will or deed.
A life estate may be created by will or deed.
Answer Options
A
It must be measured by the life of oneB
Because it is based on life, it may not beC
It may be created by will or deed.D
It requires that the holder make principalVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
freehold-estatesfuture-interestswasteestate-planning
Key Terms:
life estatedeedwillpur autre viefreehold estate
Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
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.
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