What does a Life Estate entail?

A Life Estate is a type of property ownership that is limited in duration to the life of a specific individual, known as the lifetime tenant. In this arrangement, the lifetime tenant has the right to use and enjoy the property for as long as they are alive. However, upon their death, the ownership interest in the property does not pass to the tenant's heirs but rather goes to a predetermined remainderman or back to the original grantor, depending on the terms of the life estate.

This concept contrasts with other forms of ownership, such as fee simple ownership, which allows for an indefinite duration and full rights over the property. The nature of a life estate means that the lifetime tenant's rights are secure only for their lifetime, making choice B accurate. This helps clarify the boundaries of property rights and responsibilities, as well as the future disposition of the property after the lifetime tenant's death.