Fact Pattern 8-1
Jill recently inherited money from her old aunt Maude. Jill decided to buy beach-front property in Beaufort, South Carolina. Jill's new property consists of 3 acres of land, with direct access to the ocean. When she bought the land there is no home on it, but she wants to build a beach home in the future. A year after she bought the lovely lot, the city of Beaufort rezones the land, prohibiting any building so that other residents can enjoy the view.
-Refer to Fact Pattern 8-1. When Jill buys her beach-front land she also buys the right to exclusive possession of and enjoyment of those 3 acres. What Jill has purchased is:
A) a fee defeasible
B) a life estate
C) a reverter interest
D) a remainder interest
E) a fee simple estate

Question

Quizplus · Accepted Answer

Jill has purchased a fee simple estate, which is the highest form of ownership interest in a piece of land. She has the right to exclusive possession, use, and enjoyment of the land, subject only to government regulation and any valid easements or other encumbrances. The fact that the city of Beaufort later rezoned the land does not change the nature of Jill's ownership interest.

Fact Pattern 8-1 Jill Recently Inherited Money from Her Old Aunt Maude. Jill