life estate

Definition

An interest in real or personal property that is limited in duration to the lifetime of its owner or some other designated person or persons.

Use life estate in a sentence

We needed to get some life estate because it would be important for us to have in the long run.

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You should try to figure out how a life estate may work for you and try to use it in your favor if possible.

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You should try and get a good life estate so that you will not have to worry about things if you were to pass.

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estovers tenancy for life