A . What is a fee simple? b. What is a life estate? c. If Ed grants a life estate to his wife, what interest does he retain? Explain
a . A fee simple (absolute) is an estate in land that is unlimited as to duration, disposition, and descendability. It is the largest estate and the most extensive interest that can be enjoyed in land.
b. A life estate is an estate in land whose duration is limited to the life of the party holding it, or some other designated person.
c. Ed maintains a reversion. Upon the death of his wife, the property will revert to Ed.
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a. True b. False Indicate whether the statement is true or false
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