Simon Owns a Property

question 53

Multiple Choice

Simon owns a property. He may not destroy its value to future holders. After his death, the property will pass to Rachel. Which of the following interests in real property does Rachel have?

• A) life estate
• B) future interest
• C) conditional estate
• D) fee simple absolute

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Definitions:

Insurance Company

A business that provides coverage, in the form of compensation resulting from loss, damages, injury, treatment or hardship in exchange for premium payments.

Fire Damages

The losses or destruction caused to property, goods, or assets as a result of fire.

Coinsurance Clause

A provision in an insurance policy that requires the policyholder to bear a portion of the loss in proportion to the coverage amount, encouraging them to insure the property to its full value.

Fire Damage

The destruction or harm caused to property, structures, or objects by fire.