Property Ownership
Which of the following BEST describes a 'life estate' in Alaska?
AOwnership that automatically transfers to heirs upon the owner's death
BA freehold estate that lasts for the duration of a specified life✓ Correct
CA leasehold estate that terminates upon the tenant's death
DOwnership that can only be sold with court approval
Explanation
A life estate is a freehold estate that lasts only for the duration of a specified person's life (the measuring life). When that person dies, the estate either reverts to the grantor (reversion) or passes to a remainderman.
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