| Monica lives. Second, if Joey conveys Blackacre to Monica for life, Monica can then sell the life estate to Rachel. Again, Rachel and Rachel's heirs will own the land for as long as Monica lives In either scenario, once Monica dies, california consolidation loan mortgage ownership of the land will revert to Joey. If Joey has died, ownership will revert to california consolidation loan mortgage heirs. The right to succeed to ownership of the property upon the expiration of the life estate is called a remainder. The early common law did not recognize a life estate in personal property, but such interests were cognizable in equity. Thus, although life estates in real estate are still created today, the life estate is more commonly used in trust instruments, typically in an attempt to minimize the effect of the inheritance california consolidation loan mortgage or other taxes on transfers of wealth. The law of England and Wales no longer recognises the life estate at law in relation to land, instead the holder of legal title to the california consolidation loan mortgage (whether the freehold fee simple or a lease) will hold that land on trust first for the life tenant and then for the remainderman. The california consolidation loan mortgage Association of Realtors (NAR), whose members are known as "Realtors," is America's largest trade association, representing 1 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. NAR's membership is composed of residential and commercial brokers, salespeople, property managers, appraisers, counselors, and others engaged in all aspects of the real estate industry. Members belong to one or california consolidation loan mortgage of some 1,600 local associations and boards and 54 state and territory associations of Realtors. They are pledged to a strict Realtor "Code of Ethics and |
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