The following is not a distinguishing characteristic of a life estate.

The owner enjoys full ownership rights during the estate period.

Holders of future interest own only a reversionary interest.

The estate may be created by agreement between private parties.

The estate may be created by law under prescribed circumstances.

Holders of future interest own only a reversionary interest.

Question

Jakob Patterson

Business

12 August, 04:14

The following is not a distinguishing characteristic of a life estate.

The owner enjoys full ownership rights during the estate period.

Holders of future interest own only a reversionary interest.

The estate may be created by agreement between private parties.

The estate may be created by law under prescribed circumstances.

Holders of future interest own only a reversionary interest.

+1

Answers (1)

Know the Answer?

Leonard Moore · Answer 1

The correct answer is letter "B": Holders of future interest own only a reversionary interest.

Explanation:

A life estate is a grant provided by the owner of a property to another individual for his or her lifetime. That individual - called the life tenant, is right to use the property at will bound only to waste. The distinguishing characteristics of the life estate imply that holders of future own revisionary or remainder interest, and that the estate could be created by agreement from private parties or by law under prescribed scenarios.