Asked by Osayama Jackie on Jun 26, 2024
Verified
Explain what is held in a life estate.
Life Estate
A property interest held by an individual only for the duration of their life, after which the property reverts to another designated person or entity.
- Comprehend the legal foundation of life estates, remainders, and reversionary rights.
Verified Answer
PD
Patrick-Anita DsouzaJun 28, 2024
Final Answer :
The person who holds the life estate in the land will have the right to use and occupy that land during the life of the person to whom the life estate is attached, usually the person who holds the life estate. This includes the right to sell the interest in the land, but that interest is limited by the life in question.
Learning Objectives
- Comprehend the legal foundation of life estates, remainders, and reversionary rights.
Related questions
A Remainderman Is a Third Party with the Right to ...
Martha Conveyed Her Lakefront Property to Her Daughter, Ellen, for ...
Charles,a Healthy Twenty-Five-Year-Old,owns a Life Estate in Ten Acres of ...
Brad Is a Riparian Owner in a State That Follows ...
Which of the Following Refers to a Person's Present Right ...