Asked by Tabatha Falls on Apr 27, 2024
Verified
A form of property ownership entitling the owner to use, possess, or dispose of the property as she chooses during her lifetime, and which on her death descends to her heirs is called
A) fee simple absolute ownership.
B) tenancy in common.
C) joint tenancy.
D) tenancy by the entirety.
Tenancy By The Entirety
A form of joint property ownership reserved for married couples, where each spouse has an undivided interest in the property, providing rights of survivorship.
Fee Simple Absolute Ownership
The most complete form of ownership of real estate, conferring unlimited use, control, and inheritance rights.
Tenancy In Common
A form of co-ownership of property in which each party owns an undivided interest that passes to his or her heirs at death.
- Describe the nature of fee simple absolute ownership and ascertain its relevance.
Verified Answer
GH
Garrett HuneycuttMay 03, 2024
Final Answer :
A
Explanation :
Fee simple absolute ownership is the most complete form of ownership one can have in real property. It grants the owner the full rights to use, possess, and dispose of the property during their lifetime, and upon their death, the property automatically descends to their heirs. This contrasts with other forms of property ownership like tenancy in common, joint tenancy, and tenancy by the entirety, which involve shared ownership or have specific conditions attached to the transfer of the property upon death.
Learning Objectives
- Describe the nature of fee simple absolute ownership and ascertain its relevance.