Is the life tenant always the measuring life? Why or why not?
What will be an ideal response?
The measuring life can be that of grantor, the life tenant, or another individual. The life estate is frequently used a method of planning and control over the distribution of the real estate, including protecting the real estate from creditors and providing housing for a financially irresponsible or physically disabled child.
You might also like to view...
How is a real property tax lien enforced?
What will be an ideal response?
Describe POD and Totten Trusts.
What will be an ideal response?
Courthouse security measures need to be taken into account when using electronic equipment and will routinely include any of the following except:
A) Retinal recognition B) Briefcase and purse searches C) X-ray machines D) Metal scanners
Explain the differences between a freehold and a non-freehold estate
What will be an ideal response?