Fact Pattern 22-1
Virgil 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 22-1.Virgil conveys some of his land to Tomas with the right to possess and use the property for a certain period of time.Virgil has given Tomas
A)a fee simple absolute.
B)a leasehold estate.
C)a life estate.
D)a profit.

Question

Quizplus · Accepted Answer

By conveying some of his land to Tomas with the right to possess and use the property for a certain period of time, Virgil has given Tomas a leasehold estate. This means that Tomas has the right to possess and use the property for a limited period of time, but he does not have ownership rights like Virgil does with a fee simple absolute.

Fact Pattern 22-1 Virgil Owns a Ranch in Wyoming.His Ownership Rights Include the Rights