An Interest That Arises in a Third Party in the Future

question 43

Multiple Choice

An interest that arises in a third party in the future is called a(n) :

• A) reversion.
• B) remainder.
• C) assignment.
• D) fee simple absolute.

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Definitions:

Constructive Eviction

An eviction that occurs when a property has become unsuitable for use due to the unlivable quality of the property.

Leak

The unauthorized release of confidential information or the escape of a liquid or gas through a hole or crack.

Landlord

A person or entity that owns property and rents it out to individuals or businesses, often under a lease agreement.

Implied Warranty

A guarantee inferred by law that a product or service is fit for the purposes for which it was sold, even if not explicitly stated.