A life estate in Alabama grants the holder:
Why Ownership of property for the duration of a specified person's life Is Correct
Answer B: Ownership of property for the duration of a specified person's life
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
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- Which type of ownership interest gives the holder the right to use and enjoy property for the duration of their life?Property Ownership
- In Alabama, a fee simple determinable estate automatically reverts to the grantor if:Property Ownership
- A life estate grants ownership:Property Ownership
- In Alabama, title to real property held by a deceased person passes either through:Property Ownership
Key Terms to Know
A freehold interest in real property that lasts only for the duration of a specified person's life.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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