MA Salesperson Exam Module 3: Interests in Real Estate Mostly Tested Questions and Correct Answers (100% Pass)
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Course
MA Salesperson
Institution
MA Salesperson
Freeholds
Fee simple absolute, fee simple defeasible, life estates
Fee Simple Absolute
Default type
-aka fee, fee simple, fee simple indefeasible
-not limited, inheritable
-owner is entitle to the entire bundle of rights to the the property
-intended to be indefinite and are only limi...
✓ automatically lost when a limitation is violated
Fee Simple Subject to a Condition Subsequent
✓ lost when legal action is brought pursuant to the violation of the
limitation and returns the property to the original grantor
Fee Simple Subject to an Executory Limitation
✓ lost when legal action is brought pursuant to the violation of the
limitation and the property is transferred to a third party named by the
grantor rather than back to the original grantor themselves.
Life States
✓ -Freehold interests that only exist as long as the owner or the property
(life tenant) is alive. The deed states who received the life estate
(remainderman) upon their death.
✓ -the life tenant may not commit waste because it would compromise
the remainderman's future interest
✓ -life tenants can sell, rent, or otherwise dispose of the property as they
see fit but anything they do while alive is undone upon their death.
Life estate in reversion
Master01 | November, 2024/2025 | Latest update
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