Property Ownership
A life estate in Nebraska gives the life tenant the right to:
AOwn the property forever with full inheritance rights
BPossess and use the property during their lifetime, after which it passes to the remainderman✓ Correct
CSell the property and keep all proceeds
DMortgage the property for the full value without remainderman consent
Explanation
A life estate grants the right to use, possess, and receive income from property for the holder's lifetime. Upon death, ownership passes to the remainderman as designated in the deed.
Related Nebraska Property Ownership Questions
- A Nebraska landowner along the Platte River has riparian rights. These rights allow the owner to:
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- Surface rights in Nebraska farmland may be separately owned from mineral rights, meaning the surface owner:
- A fixture in Nebraska real estate is personal property that has become:
- The government's power to levy real property taxes is known as:
- In Nebraska, a property held in a revocable living trust is:
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