Old Uncle Isaac has a cold and has become very morbid, talking continuously about funerals, death, and wills. Now he asks about life-estates and wills; should he give wife Juliet a life estate? Which of the following is a true statement about wills and life-estates?
A) The holder of a life estate must pay for normal upkeep, pay fees and taxes, and not harm the value of the reversionary interest.
B) The life tenant is entitled to exclusive possession of the property for an indefinite period of time.
C) The owner of the fee simple can grant a life estate only while he is alive.
D) A life estate can only be created by contract.
E) If Isaac doesn't make out a will, his property will revert back to the Crown.
Correct Answer:
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