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Author Question: Compare and contrast the present and future interests in a life estate. What will be an ideal ... (Read 68 times)

yoroshambo

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on: Aug 3, 2018
Compare and contrast the present and future interests in a life estate.
 
  What will be an ideal response?

Question 2

For most individuals, the primary reason to acquire real estate is for the tax benefits.
 
  A. True
   B. False


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Dnite

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Reply #1 on: Aug 3, 2018
Answer to Question 1

A present interest is the right to currently own, possess, use, and enjoy the property. A future interest is the right to own the property at some unknown time in the future. In a future interest, possession, use, and enjoyment are deferred until the future. A future interest can be a reversion to the grantor, or a remainder to a third party.

Answer to Question 2

B


yoroshambo

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Reply 2 on: Aug 3, 2018
YES! Correct, THANKS for helping me on my review

billybob123

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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