Property ownership 3 Flashcards
The most important distinguishing feature of a fee simple estate is that it is
Inheritable
A freehold estate which is inheritable is a __________estate
Fee simple
A fee simple estate is one type of ___________estate
Freehold
An estate which is limited only by the the governments rights is called a _________estate
Fees simple absolute
An indefensible fee estate is know as a ________estate
Fee simple absolute
The least restricted form of ownership is a __________
Fee simple absolute
A fee simple estate that is subject to limitations other than the government’s rights is called a _______estate
Fee simple defeasible
A fee simple estate that will terminate if a condition stated in the deed comes into being or is terminated is called a _________ estate.
Fee simple defeasbile
Carol conveyed her property to Mary for so long as it was use only as a single-family resident. This is an example of _________estate
Fee simple defeasible
A freehold estate that is not normally inheritable is called a _________estate
Life
A life estate is one type of ________estate
Freehold
An estate held for the duration of someone’s life is called a ______ estate
Life
Jack grants an estate in land to Martha with the stipulation that ownership reverts to him on Martha’s death. Martha owns
A life estate
A person who holds a life estate is known as a
Life tenant
A regular life estate is
Not inheritable
