Patsy possesses twenty-four acres of remote,rugged land.Patsy has the right to use the property,in?cluding extracting silver from an existing mine,for life.Patsy also has the right to lease the land for a period not to exceed her life.Patsy's ownership interest is

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Patsy's ownership interest is a life estate, which means she has the right to use and enjoy the property during her lifetime, but does not have the right to sell or transfer ownership to anyone else. The fact that she can also lease the land indicates that she has some degree of control and can derive income from the property, but ultimately her ownership rights are limited to her lifetime. This is not a fee simple absolute (which would give her complete ownership and control), a profit (which would give her the right to extract resources without owning the land), or the power of eminent domain (which is a governmental power to take private property for public use).

Patsy Possesses Twenty-Four Acres of Remote,rugged Land