If one has the right to occupy a piece of property until their death, at which point title to the property passes to heirs who have been named by the owner of the property, there is a:
A) life estate
B) joint tenancy
C) tenancy in common
D) residual interest
E) none of the other choices

Question

Quizplus · Accepted Answer

A life estate is a type of ownership where the owner (known as the "life tenant") has the right to occupy and use the property during their lifetime. Once the life tenant dies, ownership of the property passes to the named heirs (known as the "remaindermen") who receive full title to the property. This allows the life tenant to enjoy the property during their lifetime while still ensuring that the property is transferred to their chosen heirs upon their death.

If One Has the Right to Occupy a Piece of Property