life estate

life estate
life estate see estate 1

Merriam-Webster’s Dictionary of Law. . 1996.

life estate
index freehold

Burton's Legal Thesaurus. . 2006

life estate
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. . 2008.

life estate
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. . 2001.

life estate
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 Court
Category: Wills, Trusts & Estates → Wills

Nolo’s Plain-English Law Dictionary. . 2009.

life estate
life 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. . 2010.

life estate
n. An estate held for the duration of life of a person (usually, the occupant).

Webster's New World Law Dictionary. . 2000.

life estate
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
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
   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. . 2013.

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Look at other dictionaries:

  • Life estate — Life Life (l[imac]f), n.; pl. {Lives} (l[imac]vz). [AS. l[imac]f; akin to D. lijf body, G. leib body, MHG. l[imac]p life, body, OHG. l[imac]b life, Icel. l[imac]f, life, body, Sw. lif, Dan. liv, and E. live, v. [root]119. See {Live}, and cf.… …   The Collaborative International Dictionary of English

  • life estate — ➔ estate * * * life estate UK US noun [C] LAW, PROPERTY ► the legal right to own and control a property, such as a building or piece of land, for the length of time that you are alive: »The life estate deed allows the older couple to own the… …   Financial and business terms

  • life-estate — lifeˈ estateˈ noun An estate held during the life of the possessor • • • Main Entry: ↑life …   Useful english dictionary

  • Life estate — A life estate is a concept used in common law and statutory law to designate the ownership of land for the duration of a person s life. In legal terms it is an estate in real property that ends at death. The owner of a life estate is called a… …   Wikipedia

  • life estate — An estate to be held by grantee or devisee for the term of his own life, or for that of another person, or for more lives than one. 28 Am J2d Est § 56; 33 Am J1st Life Est § 2. An estate of freehold, not of inheritance. 28 Am J2d Est § 56. A life …   Ballentine's law dictionary

  • Life Estate — A type of estate that only lasts for the lifetime of the beneficiary. A life estate is a very restrictive type of estate that prevents the beneficiary from selling the property that produces the income before the beneficiary s death. But the… …   Investment dictionary

  • life estate — noun An estate in land which is owned by a party only for the duration of the life of that party, and for which ownership will revert to another upon the death of that party. Syn: estate for life, life estate pur autre vie, life tenant, te …   Wiktionary

  • life estate deed — A document used to convey title in real estate from one party to another but only upon the death of the grantor. A life estate allows the grantor the right to own or possess real estate until his or her death. Upon the life estate holder s death …   Financial and business terms

  • life estate pur autre vie — noun An estate in land which is given by a grantor to a party only for the duration of the life of a third party, and for which ownership will revert to another upon the death of that third party. Example: Joe gives property to Mike for the life… …   Wiktionary

  • life estate by operation of law — A life estate which comes into existence without any act of the parties, such as that which springs from curtesy or dower. 33 Am J1st Life Est § 2 …   Ballentine's law dictionary

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