- life estate
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n.An estate in property that lasts until the person holding it dies, or until some other specified person dies.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- life estate
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an estate of freehold that exists for the duration of the life of the grantee. If the grantee should assign his interest, that taken by the assignee is referred to as an estate pur autre vie (i.e. 'an estate for the life of someone else', namely the original grantee). Since 1925 a life estate can exist only as an equitable interest behind a trust. See insurable interest, insurance.
Collins dictionary of law. W. J. Stewart. 2001.
- life estate
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The right to the use and enjoyment of certain property (usually real estate) for life only. So someone who inherits a life estate in a house may live in the house for his or her life but has no right to sell it or to leave it at death. Life estates aren't as commonly used as they once were, but are still useful in certain situations. For example, a man in his second marriage might leave a life estate in his house to his surviving wife, with the provision that at her death, it is to go to his children from his previous marriage. (See also: remainderman)Category: Wills, Trusts & Estates → Estates, Executors & Probate CourtCategory: Wills, Trusts & Estates → Wills
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- life estate
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USAlife estate, Also known as an estate for life.In a real estate context, an interest in real property that terminates once a person expressly identified in a life estate agreement dies. Life estates are measured either by the life of the property recipient or by the life of some other person.The owner of the life estate is known as a life tenant. When the life tenant dies, the real property in the life estate is usually transferred to the remainderman who is also typically named in the life estate agreement.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- life estate
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An estate whose duration is limited to the life of the party holding it, or some other person.
Dictionary from West's Encyclopedia of American Law. 2005.
- life estate
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An estate whose duration is limited to the life of the party holding it, or some other person.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- life estate
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n.the right to use or occupy real property for one's life. Often this is given to a person (such as a family member) by deed or as a gift under a will with the idea that a younger person would then take the property upon the death of the one who receives the life estate. Title may also return to the person giving or deeding the property or to his/her surviving children or descendants upon the death of the life tenant-this is called "reversion." Example of creation of a life estate: "I grant to my mother, Molly McCree, the right to live in and/or receive rents from said real property, until her death," or "I give my daughter, Sadie Hawkins, said real property, subject to a life estate to my mother, Molly McCree." This means a woman's mother, Molly, gets to live in the house until she dies, then the woman's daughter, Sadie, will own the property.
Law dictionary. EdwART. 2013.
