Legal Life Estate at Life

Legal Life Estate. When an owner of a home signs a life estate, they are in effect passing part of the ownership of a home to another person. What is a life estate?

A life estate can be useful in estate planning, as it is one way to keep a real property from passing through the probate process. Life estate deeds are most often used in states that do. After the death of the life tenant, the property passes to a designated person in fee simple called a remainderman.

Mixed Use Expertise Gensler

Life estate an estate of freehold that exists for the duration of the life of the grantee. A property right to last only for the life of the life tenant is called the estate pur sa vie. if it is for the duration of the life of a third party, it is. A life estate is something to consider during estate planning. Life estate deeds are most often used in states that do.