Property That Is Owned in Fee Simple May Not Be

question 176

True/False

Property that is owned in fee simple may not be given away.

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Definitions:

Life Policy

An insurance contract that pays a beneficiary upon the death of the insured, or after a certain period.

Quarterly Premiums

Payments made every three months for insurance policies or other agreements requiring regular fees.

Annual Premium

The amount of money that must be paid once a year to maintain an insurance policy or similar financial product.

Endowment Policy

An insurance policy that pays a specified sum to the policyholder upon a certain date, or to the beneficiaries upon the policyholder's death.