Kovats Real Estate School Practice Test

A widow who is willed the use of a family home for her natural life holds which type of estate?

1. Leasehold estate

2. Life estate

3. Defeasible fee

4. Fee simple absolute

The correct answer is: Life estate

When a widow is willed the use of a family home for her natural life, she holds a life estate. A life estate is a property interest that allows an individual to use and benefit from a property during their lifetime. Upon the death of the life tenant, in this case, the widow, the ownership of the property reverts back to the original owner or is passed on to another designated party, typically outlined in the will. This arrangement creates a clear distinction in ownership; the widow has the right to use the property, maintain it, and derive benefits from it, but she does not have the authority to sell or will it to someone else, as her rights are limited to her lifetime. This contrasts with other types of estate: - A leasehold estate involves renting property for a specific term and does not provide ownership rights, rather temporary possession. - A defeasible fee is a type of ownership that can be voided if certain conditions are not met, which does not apply in this situation. - A fee simple absolute represents complete ownership without any conditions or limitations, which also is not the case here since the widow's rights are restricted to her lifetime. Thus, the life estate accurately describes the widow’s rights in the property, making it