![]() remaindermen) or reverts to its grantor (all of which confusingly can be called 'reversions' and 'reversioners'). However, the remainder interest granted to a third party (A to B for life, with a remainder interest in C), is called "remainder".Ī clear distinction should be made with an estate for (a) term of years, interpreted as lease or licence.Īt death, assuming no mis-dealings to certain innocent purchasers, the property involved in a life estate falls into the ownership of the remainderman ( pl. The right to succeed to ownership of the property upon the expiration of the life estate is called a reversion. ![]() If A has died, ownership will revert to A's heirs. In either scenario, once C dies, the ownership of the land will revert to A.Again, B and B's heirs will own the land for as long as C lives. Second, if A conveys land to C for life, C can then sell the life estate to B.For example, if A conveys land to B during the life of C, then B owns the land for as long as C lives if B dies before C, B's heirs will inherit the land, and will continue to own it for as long as C lives. First, when the owner of property conveys his interest in that property to another person, for the life of a third person.A life estate pur autre vie is most commonly created in one of two circumstances. It also arises where the grantor chooses to make the measuring life that of someone other than the life tenant's life. This form of life estate arises where a life tenant has disposed of the property, assuming such a disposal does not trigger any special forfeiture under the life interest instrument. Because a life estate ceases to exist at the death of the measuring person's life, the life tenant, a temporary owner, may short-term let but cannot sell, give or bequeath the property indefinitely (including assuming it could pass to heirs ( intestate)) or creating a purported document leaving it to devisees ( testate).Ī life estate pur autre vie ( Law French, "for the life of another") is held for the rest of the lifetime of a person who does not hold the estate, known as the cestui que vie (Law French, "the person who lives"). 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. The ownership of a life estate is of limited duration because it ends at the death of a person. JSTOR ( July 2015) ( Learn how and when to remove this template message).Unsourced material may be challenged and removed. Please help improve this article by adding citations to reliable sources. This article needs additional citations for verification.
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