Asked by Nakaila Lovett on Jun 04, 2024
Verified
An estate in fee simple would have which of the following characteristics?
A) It may be inherited.
B) It may be sold.
C) Judgment creditors may levy upon it.
D) All of these.
Fee Simple
A type of freehold ownership where the owner has the maximum possible rights to the land or property, under the law, including the right to sell or inherit it.
Inherited
Pertains to assets, traits, or conditions passed down from parents to their offspring through genes or legal processes.
Judgment Creditors
Individuals or entities awarded a monetary judgment against a debtor in court.
- Comprehend the traits and consequences associated with various real estate ownership and leasehold estates.
- Analyze and compare different types of property interests, including fee simple, life estate, and leaseholds.
Verified Answer
RT
rodley thelorsJun 08, 2024
Final Answer :
D
Explanation :
An estate in fee simple is the most complete form of ownership of real estate, allowing the owner to sell, inherit, or have the property levied upon by judgment creditors, encompassing all the options listed.
Learning Objectives
- Comprehend the traits and consequences associated with various real estate ownership and leasehold estates.
- Analyze and compare different types of property interests, including fee simple, life estate, and leaseholds.