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.This ownership interest is

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Patsy's ownership interest is a life estate because she only has the right to use and benefit from the property during her lifetime. Once she passes away, the ownership of the property reverts back to the original owner or to whomever they designate. The fact that Patsy can also lease the property does not change the fact that her ownership interest is a life estate.

Patsy Possesses Twenty-Four Acres of Remote,rugged Land