Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
1,774,436,815 visitors served.
forum mailing list For webmasters
?
New: Language forums
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

life estate
(redirected from Tenant for life)

   Also found in: Financial, Wikipedia 0.04 sec.

An estate whose duration is limited to the life of the party holding it, or some other person.


life estate 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 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.


See also: freehold


How 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.
?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in ? References in periodicals archive
 
Several thousand units had been kept vacant and out of the housing market because under an earlier law, once a tenant came in, they became a tenant for life.
Additionally, many suburban unit owners and sponsors have been unwilling to accept harsh rent regulations and have kept units vacant because once a tenant comes in, they are a tenant for life.
The individual thought he was doing the right thing by offering a unit for a lease term and then found out the guy was the tenant for life.
 
Legal browser? ? Full browser
 
 
Legal Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2009 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.