Property Ownership
What is a 'life estate' in North Dakota real property law?
AOwnership that lasts forever and passes to heirs
BAn ownership interest that lasts for the duration of a specified person's life✓ Correct
CA lease that cannot be terminated during the tenant's lifetime
DAn easement that exists for the life of a structure
Explanation
A life estate is a form of property ownership limited to the lifetime of a specified person (the life tenant or another measuring life). Upon that person's death, the property passes to the remainderman.
Related North Dakota Property Ownership Questions
- In North Dakota, a person who receives property by 'devise' receives it through:
- In North Dakota, when a property owner conveys land to the county for a public road, this is an example of:
- Which of the following is an example of an involuntary alienation of real property?
- A deed conveying North Dakota farmland 'to Sarah and Tom' with no other designation creates what type of co-ownership?
- A North Dakota property owner who dies with a valid will is said to have died:
- In North Dakota, which of the following BEST describes 'property rights in gross' as they apply to mineral rights?
- Which of the following BEST describes the bundle of rights associated with real property ownership?
- A life estate grants the life tenant the right to:
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