Property Ownership
Which of the following best describes a life estate?
AOwnership that lasts for 99 years
BOwnership measured by the life of a designated person✓ Correct
COwnership by joint tenants with survivorship
DA long-term lease on the property
Explanation
A life estate gives the life tenant ownership rights for the duration of someone's life (usually their own). Upon their death, the property passes to the remainderman.
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