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life estate:
(18c)
1. An estate held only for the duration of a specified person’s life, usually the possessor’s. * Most life estates created, for example, by a grant “to lane for life” are beneficial interests under trusts, the corpus often being personal property, not real property. — aka estate for life; legal life estate; life tenancy. See LIFE TENANT. [1]
1. An estate to be held by grantee or devisee for the term of his own life, or for that of another person, or for more lives than one. 28 Am J2d Est § 56; 33 Am J1st Life Est § 2.
An estate of freehold, not of inheritance. 28 Am J2d Est § 56.
A life estate in land is real estate. Crossdale v Butell, 177 kan 487, 280 P2d 593, 49 ALR2d 1112.
Under the modern law, a life estate and future interest, usually by way of remainder, may be created in personal property. 33 Am J1st Life Est § 5. [2]
1. An estate that exists as long as the person who owns ore holds it is alive. its duration may also be the lifetime of another person (EXAMPLE: “to Sarah so long as Sam shall live”). [3]
life tenancy:
1. See life estate.
1. See life estate; life tenant. [2]
1. A life estate. [3]
life tenant:
(16)
1. Someone who, until death, is beneficially entitled to property; the holder of a life estate. — aka tenant for life; life-owner. [1]
1. A person who has a life estate, such interest giving him the status of a freeholder. 28 Am J2d Est § 56. [2]
1. A person who holds a life estate. [3]
Types of Life Tenants:
equitable life tenant – (1880) A life tenant not automatically entitled to possession but who makes an election allowed by law to a person of that status — such as a spouse — and to whom a court will normally grant possession if security or an undertaking is given.
legal life estate – (1886) A life tenant who is automatically entitled to possession by virtue of a legal estate. [1]
References:
Disclaimer: All material throughout this website is compiled in accordance with Fair Use.
[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4
[2]: Ballantine’s Law Dictionary with Pronunciations Third Edition by James A. Ballantine (James Arthur 1871-1949). Edited by William S. Anderson. © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY. Library of Congress Catalog Card No. 68-30931
[3]: Ballantine’s Law Dictionary Legal Assistant Edition
by Jack Ballantine (James Arthur 1871-1949). Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning. ISBN 0-8273-4874-6.
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