A life estate grants ownership rights:
Why For the duration of someone's life, after which title reverts or passes as specified in the deed Is Correct
Answer C: For the duration of someone's life, after which title reverts or passes as specified in the deed
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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Key Terms to Know
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Life EstateA freehold interest in real property that lasts only for the duration of a specified person's life.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
EasementA non-possessory right to use another person's land for a specific purpose.
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