Property Ownership
Which of the following BEST describes a life estate in California?
AAn ownership interest that lasts forever and can be freely transferred
BA freehold estate limited in duration to the life of a person✓ Correct
CA leasehold interest for a fixed number of years
DA future interest that becomes possessory upon the death of another
Explanation
A life estate is a freehold (ownership) interest in real property that lasts for the lifetime of a specified person (the measuring life). The life tenant has the right to use and enjoy the property, but cannot convey more than their life estate; upon the measuring life's death, the property passes to the remainderman or reverts to the grantor.
Related California Property Ownership Questions
- What is a life estate?
- A 'fee simple' estate is best described as:
- Which form of co-ownership includes a right of survivorship and is only available to married couples or registered domestic partners in California?
- Which of the following is a government limitation on private property ownership?
- The four unities required to create a joint tenancy are:
- What is 'adverse possession'?
- What is 'adverse possession' and what are California's requirements?
- What is a 'lis pendens'?
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