Property Ownership
Under a life estate, the life tenant has the right to:
ASell the property in fee simple
BUse, possess, and enjoy the property during the measuring life✓ Correct
CDevise the property by will
DMortgage the property beyond the measuring life
Explanation
A life tenant may use, possess, and enjoy the property during the measuring life (typically their own life). They cannot sell a fee simple interest or encumber the property beyond the measuring life, as the remaindermen hold future interest.
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Key Terms to Know
Fee Simple
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Life EstateA freehold interest in real property that lasts only for the duration of a specified person's life.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
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