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:

Government Accountant

A professional specializing in managing and auditing the financial transactions and practices of government agencies and entities.

Management Accountant

A profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist in formulating and implementing an organization's strategy.

Investing Activities

Transactions involving the acquisition and disposal of long-term assets and other investments not included in cash equivalents.

Valuable Assets

Resources or possessions of an entity that are considered to hold significant value or importance.