Alabama Real Estate Practice Exam

How long does the ownership last in a life estate?

1. For a set number of years

2. Indefinitely

3. Only for the life of the tenant

4. Until the property is sold

The correct answer is: Only for the life of the tenant

A life estate is a type of ownership in which the owner, known as the "life tenant," holds the property for the duration of their lifetime. Once the life tenant passes away, ownership of the property reverts back to the "remainderman," typically a family member or organization designated by the original owner. This means that ownership in a life estate lasts for the duration of one's life, rather than a set number of years or indefinitely. Additionally, the property cannot be sold or transferred during the life tenant's ownership, as the remainderman has a future interest in the property. Option A is incorrect because it implies that there is a predetermined end date for the ownership, which is not the case in a life estate. Option B is also incorrect because a life estate does not grant indefinite ownership to the life tenant, as it ends upon their passing. Option D is incorrect because the life tenant does