Which of the Following Statements Is TRUE with Respect to "Reversions

question 3

Multiple Choice

Which of the following statements is TRUE with respect to "reversions" and "remainders," as those terms were discussed in the text?

• A)The doctrine of waste imposes an obligation on a person who has either a reversion or a remainder.
• B)A remainder is used only if one life estate is followed by another life estate.
• C)If a life estate is followed by a reversion, the right to sue for waste belongs to the person who created the life estate.
• D)Reversions and remainders are far more common in a business context than in a family context.
• E)A reversionary interest exists only if a person has paid to buy back a piece of land that he or she previously sold.

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