Life Estate
type: Class
subclass of: R8cjnXHiv1wNe6nzPvWnhQw
definition: A Life Estate is a form of property ownership where an individual holds the rights to use, occupy, and benefit from a property for the duration of their life. Upon the individual's death, ownership of the property reverts back to the original owner or a designated remainderman, as stipulated in the life estate agreement