Difference between revisions of "Life estate"
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| − | A '''life estate''' is the legal right of a person to occupy certain real property until their death, at which time the right to occupy the property will pass to another. A life estate may be granted as a "future interest" in real property. | + | A '''life estate''' is the legal [[right]] of a person to occupy certain real [[property]] until their death, at which time the right to occupy the property will pass to another. A life estate may be granted as a "[[future interest]]" in real property. The most common life estate is that of a surviving spouse, who will usually have the right to remain in the home, as long as s/he so desires, even if title to the home was granted to another (such as their child). |
| − | [[Category:Real | + | [[Category:Real Estate]] |
| + | [[Category:Law]] | ||
Latest revision as of 02:29, February 17, 2019
A life estate is the legal right of a person to occupy certain real property until their death, at which time the right to occupy the property will pass to another. A life estate may be granted as a "future interest" in real property. The most common life estate is that of a surviving spouse, who will usually have the right to remain in the home, as long as s/he so desires, even if title to the home was granted to another (such as their child).