Property Ownership
In Oregon, a 'life estate' grants the life tenant which of the following rights?
AThe right to sell the property and retain all proceeds
BThe right to possess and use the property for the duration of their life✓ Correct
CThe right to devise the property to heirs in a will
DThe right to encumber the property with a permanent mortgage
Explanation
A life estate grants the life tenant the right to possess, use, and enjoy the property only for the duration of their life (or another measuring life). Upon death, the property passes to the remainderman. The life tenant cannot sell fee simple title, devise the property, or create encumbrances that extend beyond their lifetime.
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