In Colorado, a 'fee simple determinable' is an estate that:
Why B. Automatically reverts to the grantor if a specified condition occurs (e.g., 'as long as used as a school') Is Correct
Answer B: B. Automatically reverts to the grantor if a specified condition occurs (e.g., 'as long as used as a school')
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
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
DeedA 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.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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