Property Ownership
Under Idaho law, what is a 'life estate' in real property?
AAn estate that lasts for the life of the tenant paying rent
BAn ownership interest that lasts for the duration of a specified person's life, after which it passes to another party✓ Correct
CA 99-year leasehold estate
DAn estate owned by a life insurance company
Explanation
A life estate is a freehold ownership interest that lasts for the duration of someone's life (the measuring life). When the measuring life ends, the property passes to the remainderman.
Related Idaho Property Ownership Questions
- The bundle of rights associated with real property ownership includes all of the following EXCEPT the right to:
- What is a 'tenancy by the entirety' and does Idaho recognize it?
- A fee simple absolute estate in Idaho gives the owner:
- In Idaho, mineral rights can be:
- In Idaho, which form of co-ownership does NOT include the right of survivorship?
- What is 'adverse possession' and what elements must be proven in Idaho?
- Which government power allows the state to take private property for public use upon payment of just compensation?
- In Idaho, what is a 'manufactured home affidavit' used for?
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