Rights question

[Carnivore]

Suggest using quotation marks when quoting others and not using your own words.

Apologies for improper attribution.

I'm Cool.. I think I did and sometimes I did not Quote when I should have made sure I did.

I was trying to give the OP sources to look at so he could try and work it out himsel.

Apologies back at you

 

[Basically Rectangular]

This got my brain thinking about property rights....

If a property is owned under a life estate, is this fee simple? It would appear that the owner of the life estate may not enjoy the full bundle of rights as fee simple? (I guess they could sell it, but the remainderman might have something to say about that)

 

[Elliott]

A life estate is encumbered by the remainderperson. Not fee simple.

 

[sputnam]

The way it's usually handled in appraisal practice is... if it's a short term residential lease, you appraiser the fee simple value of the property. Typically, that's what the Lender asks for. If you are asking for an exam question, my first reaction is it's both. The tenant has a leasehold interest in a portion of the property. The owner has a leased fee interest.