Property Ownership
In Colorado, a 'life estate' is best described as:
AOwnership of a property for a fixed 99-year term
BAn ownership interest that lasts only for the duration of someone's life✓ Correct
CA long-term lease with an option to buy
DA trust created for estate planning purposes
Explanation
A life estate is an ownership interest in real property that lasts for the duration of a specified person's life (the measuring life). Upon the death of that person, the property passes to the remainderman or reverts to the grantor.
Related Colorado Property Ownership Questions
- In Colorado, a 'conservation easement' allows a landowner to:
- In Colorado, a 'fixture' is personal property that has become real property through:
- In Colorado, which of the following is an example of 'constructive notice'?
- In Colorado, a condominium owner holds title to:
- Colorado's 'Torrens system' for land registration, which was once used in some Colorado counties, differs from recording because:
- In Colorado, the 'bundle of rights' associated with real property ownership includes:
- Tenants in common in Colorado share ownership with which characteristic that differs from joint tenancy?
- Colorado's Marketable Record Title Act establishes a look-back period of how many years?
Practice More Colorado Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →