Examlex
Which of the following is an example of an expenditure-reducing policy?
Severing
The act of legally separating or dividing property rights, often in the context of joint tenancies turning them into tenancies in common.
Adverse Possession
The process by which one can legally claim ownership of property by occupying it for a certain period, under certain conditions, without the permission of the owner.
Life Tenant
An individual who has the right to use or occupy property during their lifetime, but cannot sell or transfer the property.
Fee Simple
The most extensive interest in real estate available, granting the owner full possession and control, subject only to governmental restrictions.
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