Questions: 9. Which of the following does the law recognize as the highest type of * 1 point interest in real estate? conventional life estate fee simple estate leasehold estate estate of survivorship

9. Which of the following does the law recognize as the highest type of * 1 point interest in real estate? conventional life estate fee simple estate leasehold estate estate of survivorship
Transcript text: 9. Which of the following does the law recognize as the highest type of * 1 point interest in real estate? conventional life estate fee simple estate leasehold estate estate of survivorship
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Solution

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Answer

The answer is fee simple estate.

Explanation
Option 1: Conventional life estate

A conventional life estate is a type of freehold estate that is limited to the duration of a person's life. It does not provide the same level of ownership rights as a fee simple estate because it is temporary and ends upon the death of the life tenant.

Option 2: Fee simple estate

A fee simple estate is the highest type of interest in real estate recognized by law. It provides the owner with the most complete set of rights, including the right to use, sell, lease, or bequeath the property. It is of indefinite duration and is not subject to any conditions or limitations.

Option 3: Leasehold estate

A leasehold estate is an interest in real estate that grants the holder the right to use and occupy the property for a specified period, as defined in a lease agreement. It is not considered the highest type of interest because it is temporary and does not confer ownership rights.

Option 4: Estate of survivorship

An estate of survivorship typically refers to a joint tenancy arrangement where the surviving joint tenant(s) automatically inherit the deceased tenant's share. While it provides certain rights, it is not the highest form of ownership compared to a fee simple estate.

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