Life Tenant Owes Principal
This trap appears as a wrong-answer choice in 1 active question. Spotting how it is built is the repair: read each example's “why it's attractive” before the “why it's wrong.”
Subject distribution
- Real Property1
Example wrong choices
22013_stephen_olive_grove_life_estate · REAL_PROPERTY · Choice ABarnabas is obligated to pay the real estate taxes and to pay the $90,000 balance to Naomi.
Why it's attractive
correctly puts principal on Barnabas but wrongly puts current taxes on the future owner
Why it's wrong
correctly puts principal on Barnabas but wrongly puts current taxes on the future owner
22013_stephen_olive_grove_life_estate · REAL_PROPERTY · Choice BBarnabas is obligated to pay the real estate taxes, but Lydia is obligated to pay the $90,000 balance to Naomi.
Why it's attractive
splits the duties but reverses both, giving the tax to the future owner and the principal to the present possessor
Why it's wrong
splits the duties but reverses both, giving the tax to the future owner and the principal to the present possessor
22013_stephen_olive_grove_life_estate · REAL_PROPERTY · Choice DLydia is obligated to pay the real estate taxes and to pay the $90,000 balance to Naomi.
Why it's attractive
correctly puts taxes on Lydia but wrongly loads the principal onto the present possessor
Why it's wrong
correctly puts taxes on Lydia but wrongly loads the principal onto the present possessor
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