Property Ownership
A life estate is best described as:
AOwnership in perpetuity that passes to heirs
BAn ownership interest limited to the duration of someone's life✓ Correct
CA leasehold for a fixed period
DOwnership shared between two parties equally
Explanation
A life estate grants ownership for the duration of a specified person's life (the measuring life). When that person dies, the property passes to the remainderman or reverts to the grantor.
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