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Life in Being |
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A phrase used in the common-law and statutory rules against perpetuities, meaning the remaining duration of the life of a person who is in existence at the time when the deed orwill takes effect. The courts developed the rule during the seventeenth century in order to limit a person's power to control the ownership and possession of property after death, and to ensure the transferability of property. Cross-referencesHow to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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lien on home lienor Lieu Lieutenant Life Life annuity Life Estate Life in Being Life or Limb life without possibility of parole Life-assurance Life-estate Life-rent LIFO Lift |
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