Aaron Conveys to Bill an Estate of Property for 20

question 22

Multiple Choice

Aaron conveys to Bill an estate of property for 20 years and, upon the expiration of the 20 years, to Carol. Carol's estate in the property would be

• A) estate for 20 years.
• B) estate at will.
• C) remainder in fee simple.
• D) successor estate for years.

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Definitions:

Consumer Surplus

The difference in the total cost that consumers are prepared and able to cover for a product or service and the cost they actually cover.

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Consumer Surplus

The distinction between what customers can and are ready to pay for a product or service and the amount they end up paying.

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