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3 Cards in this Set
- Front
- Back
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A fee simple absolute estate would best be defined as? |
The highest interest a person can have in real property.
A fee simple absolute estate is the highest interest one can own in land. It is not based on a condition or event which subsequently happens, nor is it a less-than-freehold estate. Because it is of indefinite duration, it is a freehold estate. |
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Of the following, which best defines a fee simple estate? |
D. The most interest that one can hold in land.
Correct Answer is : D
The "A" answer is eliminated because all property is going to have some limitations; for example, the police powers of zoning and building codes may limit title to property, whereas the fee simple estate is the most interest that one can hold in property |
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An estate is granted to "A" for the life of "X." "A" dies while "X" is still living. The estate: |
D: Vests in the heirs or devisees of "A." Correct Answer is : D
As long as "X" (the designated person) lives, the life estate belongs to "A" (the life tenant) or the heirs of "A." |
