Property Ownership
In Colorado, a 'life estate' terminates when:
AA. The property is sold
BB. The measuring life (the person whose life determines the estate's duration) dies✓ Correct
CC. The property is mortgaged
DD. 20 years have passed
Explanation
A life estate is an ownership interest that lasts for the duration of a specified person's life (the 'measuring life'). Upon the death of the measuring life, the life estate terminates and the property automatically passes to the remainderman (or reverts to the grantor). The life tenant cannot convey more than a life estate.
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