Search results
Results from the WOW.Com Content Network
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
A life estate pur autre vie can be created when a contingent remainder is destroyed, in a Doctrine of Merger situation, where one person acquires the life estate of another and thereby destroys a remainder not already vested. [4]
An estate can be an estate for years, an estate at will, a life estate (extinguishing at the death of the holder), an estate pur autre vie (a life interest for the life of another person) or a fee tail estate (to the heirs of one's body) or some more limited kind of heir (e.g. to heirs male of one's body).
The post How an Enhanced Life Estate Deed Works appeared first on SmartReads by SmartAsset. An enhanced life estate deed, often referred to as a “Lady Bird” deed, is a legal document utilized ...
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 ...
Life insurance can help cover end-of-life expenses, estate planning, legacy funds and long-term care. Life insurance does not pay out for certain deaths, such as suicide, within the first two years.
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).
Life estates create a kind of joint partnership between the people leaving and receiving the inheritance, and like trusts, they can keep the asset out of probate. ... so work with a professional ...