Fact Pattern 37-1Virgil owns a ranch in Wyoming. His ownership rights include the right to sell or give away the property without restriction, and the right to commit waste, if he chooses.
-Refer to Fact Pattern 37-1.Virgil's ownership interest is
A) a fee simple absolute.
B) a fee simple defeasible.
C) a life estate.
D) a profit.

Question

Fact Pattern 37-1Virgil owns a ranch in Wyoming. His ownership rights include the right to sell or give away the property without restriction, and the right to commit waste, if he chooses.
-Refer to Fact Pattern 37-1.Virgil's ownership interest is​ 
A) ​a fee simple absolute. 
B) ​a fee simple defeasible. 
C) ​a life estate. 
D) ​a profit.

Quizplus · Accepted Answer

A fee simple absolute is the highest form of ownership interest in real property and includes the unrestricted right to sell, transfer, or give away the property without any conditions or limitations. Additionally, the owner has the right to commit waste on the property, if they choose. This matches the ownership rights described in the fact pattern, making choice A the correct answer.

Fact Pattern 37-1Virgil Owns a Ranch in Wyoming