life estate

life estate
/laɪf ɪ'steɪt/ noun

Dictionary of banking and finance. 2015.

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  • life estate — see estate 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. life estate …   Law dictionary

  • Life estate — Life Life (l[imac]f), n.; pl. {Lives} (l[imac]vz). [AS. l[imac]f; akin to D. lijf body, G. leib body, MHG. l[imac]p life, body, OHG. l[imac]b life, Icel. l[imac]f, life, body, Sw. lif, Dan. liv, and E. live, v. [root]119. See {Live}, and cf.… …   The Collaborative International Dictionary of English

  • life estate — ➔ estate * * * life estate UK US noun [C] LAW, PROPERTY ► the legal right to own and control a property, such as a building or piece of land, for the length of time that you are alive: »The life estate deed allows the older couple to own the… …   Financial and business terms

  • life-estate — lifeˈ estateˈ noun An estate held during the life of the possessor • • • Main Entry: ↑life …   Useful english dictionary

  • Life estate — A life estate is a concept used in common law and statutory law to designate the ownership of land for the duration of a person s life. In legal terms it is an estate in real property that ends at death. The owner of a life estate is called a… …   Wikipedia

  • life estate — 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 …   Ballentine's law dictionary

  • Life Estate — A type of estate that only lasts for the lifetime of the beneficiary. A life estate is a very restrictive type of estate that prevents the beneficiary from selling the property that produces the income before the beneficiary s death. But the… …   Investment dictionary

  • life estate — noun An estate in land which is owned by a party only for the duration of the life of that party, and for which ownership will revert to another upon the death of that party. Syn: estate for life, life estate pur autre vie, life tenant, te …   Wiktionary

  • life estate deed — A document used to convey title in real estate from one party to another but only upon the death of the grantor. A life estate allows the grantor the right to own or possess real estate until his or her death. Upon the life estate holder s death …   Financial and business terms

  • life estate pur autre vie — noun An estate in land which is given by a grantor to a party only for the duration of the life of a third party, and for which ownership will revert to another upon the death of that third party. Example: Joe gives property to Mike for the life… …   Wiktionary

  • life estate by operation of law — A life estate which comes into existence without any act of the parties, such as that which springs from curtesy or dower. 33 Am J1st Life Est § 2 …   Ballentine's law dictionary

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