Which of the Following Types of Estates Involves the Weakest

question 3

Multiple Choice

Which of the following types of estates involves the weakest bundle of rights?

• A) Fee simple absolute
• B) Legal life estate
• C) Ordinary life estate
• D) Tenancy at will

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Definitions:

Personal Property Security Act

Legislation that governs the creation and registration of security interests in personal property to secure payment or performance of an obligation.

Repossessed

The act of taking back goods or property by a seller or lender from the buyer or borrower due to non-compliance with the terms of the sale or loan.

Resold

The act of selling an item or property again, especially after purchasing it from the original seller.

Registration

A legislated requirement for incorporating a company in some jurisdictions in Canada.