Welcome back to the Bar Exam Toolbox podcast! Today, we’re diving into the second part of our discussion on present estates and future interests. In the previous episode we reviewed the default property interest, the fee simple absolute, and defeasible fees. In this episode we’re covering life estates, reversions, and remainders.
In this episode we discuss:
- A review of the fee simple absolute
- Life estates
- Reversions and remainders
- Taxes and mortgage payments for a life estate
- Examples illustrating the above concepts