Property Ownership
What is the difference between a life estate and a fee simple estate?
AA life estate can be inherited; fee simple cannot
BA life estate lasts only for someone's lifetime; fee simple has unlimited duration✓ Correct
CFee simple has restrictions; life estate does not
DThey have the same duration
Explanation
A life estate is a freehold estate limited to the duration of a person's life (the life tenant or another measuring life). Fee simple absolute has an unlimited duration and is the highest form of ownership.
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