Asked by Talin Mirzaei on May 26, 2024
Verified
A possibility of reverter is the complementary estate to a:
A) fee simple.
B) qualified fee.
C) life estate.
D) reversion.
Possibility of Reverter
A future interest held by a grantor, or the grantor's successors, that allows the property to revert back if certain conditions are met.
Complementary Estate
Describes property rights or interests that are held by different parties but are necessary to the full use and enjoyment of each other's property.
Qualified Fee
An estate in land that is subject to certain conditions or limitations, potentially limiting the ownership duration or rights.
- Understand the basic principles of property interests and their legal consequences.
Verified Answer
JR
Jordan RudolphMay 31, 2024
Final Answer :
B
Explanation :
A possibility of reverter is the complementary estate to a qualified fee, meaning that the property may revert to the grantor if certain conditions are met or if a specified event occurs.
Learning Objectives
- Understand the basic principles of property interests and their legal consequences.