Question

Mary transferred a life estate in her home to John based on the life of Ned Green. Mary's interest in the property is known as a(n)

Answer 1

Answer:

The correct answer will be "Reversion interest".

Explanation:

• Reversionary interest seems to be an individual's involvement in something like an asset that whenever a prior estate continues to function. It indicates any desire that is deferred to something like the pleasure of.
• It generally means after enough duration either on a particular arrangement, the charity's grantor seems to have an intention of having again an exchanged asset.