Ownership of Real Property in Fee Simple Defeasible Means That

question 93

Multiple Choice

Ownership of real property in fee simple defeasible means that:

• A) The ownership is for only a limited period of time.
• B) The ownership is absolute except that ownership may be lost upon the occurrence or nonoccurrence of some event.
• C) The property reverts to the grantor when some condition is met.
• D) Some type of joint ownership exists.
• E) The property was acquired through a donation.

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Definitions:

Exclusive Right

A legal entitlement granting someone the sole authority to engage in a certain activity or use a specific property.

Profit

The financial gain obtained when the total revenues generated from selling goods or services exceed the total costs and expenses to produce them.

Exclusive Right

Exclusive Right is a legal entitlement that grants the holder the sole privilege to perform, use, or sell a particular service, product, or piece of intellectual property.

Marginal Revenue

The additional revenue that a company receives from selling one more unit of a product or service.