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A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum than he has (such as the owner of a fee simple granting a life estate or a leasehold estate).
In common law and statutory law, a life estate (or life tenancy) is the ownership of immovable property for the duration of a person's life. In legal terms, it is an estate in real property that ends at death, when the property rights may revert to the original owner or to another person. The owner of a life estate is called a "life tenant".
A life estate is a form of freehold estate, and the life tenant is guaranteed the use of the property for their lifetime (sometimes called a life estate "pur sa vie," which means "for his own life").
Analysis (O): O has a reversion (see above), since there is a one-year gap between A's estate and the succeeding estate Analysis (A): A has a possessory interest for life Analysis (B): B has a springing executory interest, since B's future interest follows the reversion to O, and if B reaches the age of 25 years after A's death B's interest ...
A person, A, conveys (gives) a piece of real property called "Blackacre" "to B for life, and then to C and her heirs". B receives a life estate in Blackacre. C holds a remainder, which can become possessory when the prior estate naturally terminates (B 's death). However, C cannot claim the property during B 's lifetime.
The legal term “pur autre vie” means “for the life of another” in French and when used in property law refers to a life estate that a grantor bestows on another person, known as a life ...
In property law of countries with a common law background, including the United States and some Canadian provinces, pur autre vie (Law French for "for another['s] life") is a duration of a proprietary freehold interest in the form of a variant of a life estate. [1] [2]
On Zonaprop, one of Argentina's largest real estate platforms, traditional rental listings have skyrocketed—from 5,500 before the reform to 15,300 today, a staggering 180 percent rise.
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