life estate

noun

1. property that may be held only for the extent of the holder's lifetime

Example Sentences

His offer of a life estate is, on the face of it, generous.

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You could create a “life estate” or “right of occupancy” deed.

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‘He plans to leave me a life estate in the condo and the ability to receive rent from his properties’

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Where rent control was once defended as a temporary solution to severe housing shortage, they said the laws now “grant tenants a perpetual option to renew their leases, transforming term leases into government-mandated life estates.”

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Or, you and your spouse might get a life estate.

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