Many States Have Enacted Laws That Determine the Flow of Ownership

question 8

Multiple Choice

Many states have enacted laws that determine the flow of ownership rights of real property in the case of the owner's death.For example,in the state of Florida if a family residence is declared a homestead and the owner of the property passes away,the surviving spouse and children will have automatic interests in the property.This type of estate is more commonly referred to as:

• A)Legal life estate with remainder interest
• B)Ordinary life estate with remainder interest
• C)Fee simple conditional interest
• D)Periodic tenancy

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Definitions:

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