equitable life estate – an equitable estate (interest) in real or personal property that lasts for the life of the holder of the estate (e.g. a life estate held by a trust beneficiary)

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equitable life estate:
(1831)

1. An interest in real or personal property that lasts for the life of the holder of the estate and that is equitable as opposed to legal in its creation.  *  An example is a life estate held by a trust beneficiary. [1]

References:

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[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4

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