Fact Pattern 37-1Virgil owns a ranch in Wyoming. His ownership rights include the right to sell or give away the property without restriction, and the right to commit waste, if he chooses.
-Refer to Fact Pattern 37-1.Virgil conveys some of his land to Tomas with the right to possess and use the property for the duration of Tomas's life.Virgil has given Tomas
A) a fee simple absolute.
B) a fee simple defeasible.
C) a life estate.
D) a profit.

Question

Fact Pattern 37-1Virgil owns a ranch in Wyoming. His ownership rights include the right to sell or give away the property without restriction, and the right to commit waste, if he chooses.
-Refer to Fact Pattern 37-1.Virgil conveys some of his land to Tomas with the right to possess and use the property for the duration of Tomas's life.Virgil has given Tomas​ 
A) ​a fee simple absolute. 
B) ​a fee simple defeasible. 
C) ​a life estate. 
D) ​a profit.

Quizplus · Accepted Answer

Virgil has given Tomas a life estate, which means Tomas has the right to possess and use the property for the duration of his life. Virgil still retains ownership of the property and can sell or give it away to someone else after Tomas's death. A fee simple absolute would give Tomas complete ownership and the right to sell or give away the property, which he does not have in this case. A fee simple defeasible would give Tomas ownership, but with a condition attached that could cause his ownership to be terminated under certain circumstances. A profit is a nonpossessory interest that allows someone to enter onto land and take something from it, which is not applicable to this situation.

Fact Pattern 37-1Virgil Owns a Ranch in Wyoming