Examlex
Which of the following organizes worldwide operations based primarily on function and secondarily on product?
Remainderman
A person who is entitled to real property subject to a prior interest (e.g., a life estate) and who acquires the fee when the prior estate terminates.
Fee Simple
The most extensive interest in real property available in law, allowing the owner absolute ownership, including the rights to sell, lease, or bequeath the property.
Life Estate
A legal interest in real property that lasts for the lifetime of a specific individual, after which the property reverts to another party.
Fixture
An item of property that is attached to a structure or land in such a way that it is considered a permanent part of the site.
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