Which of the following terms refers to the owner of a life estate upon its expiration?

Prepare for the PSI Property Ownership Exam with flashcards and multiple choice questions. Each question comes with hints and explanations to optimize your study time. Get exam-ready today!

The term that refers to the owner of a life estate upon its expiration is known as the remainderman. In property law, when a life estate is established, a life tenant holds the property for the duration of their life. After the life tenant's death, the property does not revert to the original owner (the grantor) unless specified; instead, it passes to the remainderman, who is the individual or entity designated to receive the property after the life estate ends. This arrangement ensures a seamless transition of ownership following the termination of the life estate, allowing the remainderman to take full ownership and control of the property without any further obligations.

The role of the remainderman is crucial as it defines how property interests are structured in relation to life estates. Understanding the specific term and the function of the remainderman is essential for grasping the complexities of property ownership and estate planning.

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