Rod possesses five hundred acres of forested property. He has the right to use the land, including cutting its timber, for life. He also has the right to lease the land for a period not to exceed his life. This ownership interest is

Question

Rod possesses five hundred acres of forested property. He has the right to use the land, including cutting its timber, for life. He also has the right to lease the land for a period not to exceed his life. This ownership interest is​

Quizplus · Accepted Answer

Rod's ownership interest in the property is limited to his lifetime. Once he passes away, ownership of the property reverts to the owner of the fee simple estate. Therefore, Rod only has a life estate in the property, as he has the right to use and lease the land only for the duration of his life.

Rod Possesses Five Hundred Acres of Forested Property