Property Ownership
Under Wisconsin law, a 'remainder interest' in real property is a future interest that:
AAutomatically reverts to the grantor on the life tenant's death
BPasses to a named third party (remainderman) when the measuring life ends✓ Correct
CBecomes a fee simple automatically after 21 years
DIs held in trust by the county
Explanation
A remainder interest is held by a named third party (remainderman) who receives the property when the life tenant dies, rather than reverting to the original grantor.
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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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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.
Life EstateA freehold interest in real property that lasts only for the duration of a specified person's life.
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