Advertisement
Advertisement
life estate
noun
- property that may be held only for the extent of the holder's lifetime
Example Sentences
Where rent control was once defended as a temporary solution to severe housing shortage, they said the laws now âgrant tenants a perpetual option to renew their leases, transforming term leases into government-mandated life estates.â
Or, you and your spouse might get a life estate.
On the other hand, tenants protected by just-cause guidelines may live in their apartments indefinitely, even their whole lives, a âlife estate.â
Florida doesnât have transfer-on-death deeds, according to self-help site Nolo.com, but the state offers something similar called an âenhanced life estateâ or âLady Birdâ deed.
The land near Peru was placed under a life estate, which means Dillon retains management rights to the property until his death.
Advertisement
Advertisement
Advertisement
Advertisement
Browse