Question

question 5
1 pts
the primary difference between a life estate and a fee simple absolute estate is that life estates

• automatically terminate upon the death of a named person.
• are descendible.
• are devisable.
• are not subject to corporate tax.

question 6
1 pts
a deed that transfers any interest which a grantor may or may not have in a property without promising that the grantor actually has such an interest is called a(n) ________ deed.

• bargain and sale
• quitclaim
• unencumbered
• special warrantee

Explanation:

Analyze Question 5

The question asks for the primary difference between a life estate and a fee simple absolute estate. Using our Real Estate Definition knowledge, a fee simple absolute represents complete ownership of real property that is inheritable (both devisable and descendible) without a predetermined end date. In contrast, a life estate is a freehold estate whose duration is limited to the life of a designated person (the life tenant or a third party in the case of pur autre vie). Therefore, a life estate automatically terminates upon the death of that named person.

Analyze Question 6

The question asks for the name of a deed that transfers any interest a grantor may or may not have in a property without promising that the grantor actually holds such an interest. A quitclaim deed is specifically designed to convey whatever interest, title, or claim the grantor has in the property, if any, without making any warranties or covenants of title. This distinguishes it from warranty deeds or bargain and sale deeds, which imply or guarantee ownership.

Answer:

Question 5

• (A) automatically terminate upon the death of a named person. (Correct answer)
• (B) are descendible.
• (C) are devisable.
• (D) are not subject to corporate tax.

Question 6

• (A) bargain and sale
• (B) quitclaim (Correct answer)
• (C) unencumbered
• (D) special warrantee