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alexandr1967 [171]
3 years ago
6

Patsy possesses twenty-four acres of remote, rugged land. Patsy has the right to use the property, including extracting silver f

rom an existing mine, for life. Patsy also has the right to lease the land for a period not to exceed her life. Patsy's ownership interest is
Business
1 answer:
Viefleur [7K]3 years ago
6 0

Answer:

<u>a life estate</u>

Explanation:

Note the following privileges Patsy possesses;

  1. the right to use the property..., for life
  2. right to lease the land for a period not to exceed her life

Based of the mentioned privileges Patsy's ownership interest is a life estate which grants ownership of land for the duration of a person's life <em>according to  common law and statutory law.</em>

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