After the death of the tenant, the title of ownership is automatically transferred to a predetermined person, referred to as a remainderman. A person who has a life estate has the right to use and enjoy the property, but only as long as she lives. A person can also receive a life estate in real property. In modern real estate practice, you rarely see them. There are two restrictions on the fee, a simple absolute title is based on limiting the use of real estate. These include a simple fee to be determined and a simple fee on subordinate terms.
Traditionally, there were two subclassifications of a simple absolute title. Among the rights invested in a fee simple absolute owner are the right to sell, mortgage, give away, and otherwise encumber the property. When a person owns property in the form of ordinary remuneration, she has the highest and best property ownership form. Ownership in real estate brings with it a wide range of rights.
