Property Ownership
A life estate in Wisconsin gives the life tenant the right to:
ASell the property outright and keep all proceeds
BOccupy and use the property for the duration of the measuring life✓ Correct
CPass the property to heirs through a will
DEncumber the property with a mortgage that survives their death
Explanation
A life estate grants the holder (life tenant) the right to possess and use the property for the duration of their life (or another measuring life). At death, the property passes to the remainderman, not to the life tenant's heirs.
Related Wisconsin Property Ownership Questions
- Wisconsin's 'Condominium Act' requires that the condominium declaration include a description of:
- A Wisconsin 'right of first refusal' in a lease or deed gives a party the right to:
- A Wisconsin co-op corporation's monthly fees (maintenance fees) cover:
- Wisconsin's 'Marketable Title Act' (Wis. Stat. Chapter 893) provides that:
- A Wisconsin deed that contains a restriction 'this property shall never be used for the sale of alcoholic beverages' is an example of a:
- Which of the following items is generally considered a fixture (real property) in a Wisconsin transaction?
- The legal description in a Wisconsin deed using the metes and bounds method begins at a 'point of beginning' and:
- A Wisconsin property subject to a 'lis pendens' is encumbered by:
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →