Property Ownership
A life estate in Wisconsin terminates upon:
AThe sale of the property
BThe death of the measuring life (life tenant)✓ Correct
CThe end of a 99-year lease
DThe owner filing for bankruptcy
Explanation
A life estate is a possessory interest that terminates upon the death of the person whose life measures the estate (the measuring life).
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Key Terms to Know
Life Estate
A freehold interest in real property that lasts only for the duration of a specified person's life.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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