Asked by Kierra Lewis on Apr 28, 2024
Verified
A future interest remaining in a grantor of property who transfers away less than his entire interest is called a:
A) reversion.
B) remainder.
C) life estate.
D) fee simple absolute.
Future Interest
A legal right to property or ownership that will begin in the future, not immediate possession.
Entire Interest
Legal term describing the complete ownership or stake that a party has in property or a contractual agreement.
Grantor
The person or entity who transfers property rights to another, often used in the context of trusts and real estate.
- Gain insight into the core concepts of property interests and the legal effects emanating from them.
Verified Answer
PG
Pedro GuzmanApr 29, 2024
Final Answer :
A
Explanation :
A reversion is the interest that remains with a grantor after the grantor has transferred away a lesser estate than the grantor has. If the lesser estate ends, the property interest reverts back to the grantor or the grantor's heirs.
Learning Objectives
- Gain insight into the core concepts of property interests and the legal effects emanating from them.