Final answer:
The three types of legal life estates are Conventional Life Estate, Legal Life Estate or Statutory Life Estate, and Life Estate Pur Autre Vie. Fee simple absolute and Fee simple determinable are not life estates, but other property interest types. Tenancy in common is a form of co-ownership that can relate to life estates.
Step-by-step explanation:
The subject in question is related to legal life estates, which refers to a specific type of legal interest in property that lasts for the duration of someone's life.
There are indeed three types of legal life estates, but the options given include other forms of property interests as well. The correct types of legal life estates are:
- Conventional Life Estate
- Legal Life Estate or Statutory Life Estate (such as dower, curtesy, and homestead)
- Life Estate Pur Autre Vie
Options A) Fee simple absolute and C) Fee simple determinable are both types of fee simple estates, which are different from life estates in that they are not limited by one's lifetime but represent absolute ownership with no end date unless a condition is breached (in the case of determinable).
Option D) Tenancy in common refers to a form of co-ownership where each party owns a specific fraction of the entire property that can be sold independently, though it can relate to life estates if the tenancy in common is held for the duration of one's life.