Define: Life Estate:
Right given to use of property for the life a person. No right of transfer or interest is given to the property. At the death of the measuring life, the life estate ends and all interests are retained by the grantor.
Right given to use of property for the life a person. No right of transfer or interest is given to the property. At the death of the measuring life, the life estate ends and all interests are retained by the grantor.