life interest

American  

noun

1. interest on property that is payable during the owner's lifetime but cannot be passed on to another or others after the owner's death.

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life interest British  

noun

1. interest (esp from property) that is payable to a person during his life but ceases with his death

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Example Sentences

Mr Farquhar had changed his will, naming Field as the main beneficiary and giving him a life interest in his house as well as half share in the property with Mr Farquhar's brother Ian.

From BBC • Aug. 21, 2023

Mr Farquhar changed his will, naming Field as the main beneficiary and giving him a life interest in his house.

From BBC • Jul. 19, 2023

When he abdicated, Edward demanded his brother buy him out of his life interest in the Balmoral and Sandringham estate for a tidy sum.

From The Guardian • Jan. 9, 2020

Before his death, Mr Farquhar had changed his will, giving Field a life interest in his house.

From BBC • Aug. 9, 2019

In 1802 he entered parliament through the duke of Norfolk’s nomination as member for Thetford, and married a widow with six children, Mrs Ord, who had a life interest in a comfortable income.

From Encyclopaedia Britannica, 11th Edition, Volume 7, Slice 6 "Coucy-le-Château" to "Crocodile" by Various