life estate deed

life estate deed
A document used to convey title in real estate from one party to another but only upon the death of the grantor. A life estate allows the grantor the right to own or possess real estate until his or her death. Upon the life estate holder's death, the property is automatically conveyed to another person or persons who hold a remainder interest. The holder of a remainder interest is often called a remainderman because he or she gets the remaining interest in the property. American Banker Glossary

Financial and business terms. 2012.

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  • life estate — ➔ estate * * * life estate UK US noun [C] LAW, PROPERTY ► the legal right to own and control a property, such as a building or piece of land, for the length of time that you are alive: »The life estate deed allows the older couple to own the… …   Financial and business terms

  • life estate — see estate 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. life estate …   Law dictionary

  • Marital life estate — A marital life estate is, in the common law tradition of the U.S. and Great Britain, a life estate held by the spouse (husband or wife) or widowed spouse, for the duration of that spouse s life. Contents 1 Creation 2 Tax avoidance 3 See also …   Wikipedia

  • conventional life estate — A life estate created by the act of the parties, by deed, will, or contract. 28 Am J2d Est $ 56. Conventional life estates are also frequently created, not by express words, but by general grant, not defining or limiting any specific estate. They …   Ballentine's law dictionary

  • Deed — For the British cargo ship, see SS Deed. Property law …   Wikipedia

  • life — That state of animals, humans, and plants or of an organized being, in which its natural functions and motions are performed, or in which its organs are capable of performing their functions. The interval between birth and death. The sum of the… …   Black's law dictionary

  • life — That state of animals, humans, and plants or of an organized being, in which its natural functions and motions are performed, or in which its organs are capable of performing their functions. The interval between birth and death. The sum of the… …   Black's law dictionary

  • Concurrent estate — Property law Part of …   Wikipedia

  • Index of real estate articles — Property law Part of t …   Wikipedia

  • Real estate contract — A real estate contract is a contract for the purchase/sale, exchange, or other conveyance of real estate between parties. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental… …   Wikipedia

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