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Patsy possesses twenty-four acres of remote, rugged land. Patsy has the right to use the property, including extracting silver from an existing mine, for life. Patsy also has the right to lease the land
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Patsy possesses twenty-four acres of remote, rugged land. Patsy has the right to use the property, including extracting silver from 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

User Chim
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Answer:

a life estate

Step-by-step 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 according to common law and statutory law.

User Zslayton
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