Calvin Transfers Land to a Trust

question 78

Multiple Choice

Calvin transfers land to a trust. Calvin retains the right to the income from the land for the rest of his life. Upon his death, the land is to be transferred to his daughter, Melissa. Melissa's interest is

• A)a remainder interest.
• B)a life estate.
• C)a reversionary interest.
• D)a term certain.

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Definitions:

Dependent Variable

The variable in an experimental setting that is expected to change in response to manipulations in the independent variable.

Independent Variable

A factor in a model or study that is deliberately altered to examine its impact on the variable that is being measured.

Coefficient Of Determination

A statistical measure that determines the proportion of variance in the dependent variable predictable from the independent variable(s).

Dependent Variable

The variable in an experiment that is expected to change or respond when manipulated by the independent variable.