Question

The remnant of an estate that has been conveyedto take effect and be enjoyed after the terminationof a prior estate, as when an owner conveys a lifeestate to one party and the remainder to another, iscalled:
A) the right of survivorship

B) the remainder estate

C) the reversionary right

D) the reversionary interest

Answer 1

Answer:

The remnant of an estate that has been conveyed to take effect and be enjoyed after the termination of a prior estate, as when an owner conveys a life estate to one party and the remainder to another, is called:

B) the remainder estate

Explanation:

• The option A is not correct as the right of survivorship is a feature of joint ownership of properties. It states that if a person dies in a joint ownership of a property which has right of survivorship then the other person get the share of the deceased person in the property.
• The option B is correct as the remainder estate that is such estate that is left from the life estate on the termination of a prior estate.
• The option C is incorrect as the reversionary right is such right according to which a property is reverted back on a specific event to the previous owner or the heirs of that owner if deceased.
• The option D is also incorrect as the reversionary interest is such a interest that is reverted back to the grantor or his/her heirs.

Answer 2

The answer is definitely B. Hope this helps