Property Ownership
A freehold estate that lasts for the life of a specified person is called a:
AFee simple absolute
BFee simple defeasible
CLife estate✓ Correct
DLeasehold estate
Explanation
A life estate is a freehold estate that lasts for the lifetime of a specified person (the measuring life). At the death of that person, the estate passes to the remainderman or reverts to the grantor.
Related Arkansas Property Ownership Questions
- Which of the following is typically considered personal property (not a fixture) in a real estate sale?
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- A covenant running with the land is:
- Fee simple absolute is best described as:
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