Question

1. An estate with the entire "bundle of rights," i.e., the right to do with the property anything within the law, including selling the property is known as a fee simple defeasible estate.

Question 1 options:

	1) True
	2) False

2 . A life estates exists until the property owner dies.

Question 2 options:

	1) True
	2) False

3. A life estate can be transferred.

Question 3 options:

	1) True
	2) False

4. Harry and Winnie are married and they own a house as tenants-in-common. Each has been married before this marriage and Winnie has children. Winnie dies and leaves all her worldly goods to her children. Harry challenges. He will be successful.

Question 4 options:

	1) True
	2) False

Answer 1

Sol1.> The law recognizes fee simple ownership as the highest form of ownership in real estate. It entitles the property owner to do whatever you like there, assuming that you're not breaking the law or otherwise infringing on public welfare. You're free to use the property, sell it, rent it out, or leave it to your heirs.

Hence, the statement is True.

Sol2.> A life estate (or life tenancy) is the ownership of land for the duration of a person's life.

Hence, the statement is True.

Sol3.> Life estate is the vehicle by which the property owner, or the grantor, transfers legal ownership to another person or the life tenant.

Hence, the statement is True.

Sol4.> The tenancy in common partner has the right to leave their share of the property to any beneficiary as a portion of their estate.

Hence, the statement is False.