Inez has a life estate in a house. her interest in the property lasts as long as her life lasts. she decides to rent the property to another. if inez dies during the term of the lease the estate passes to the remainderman in fee simple and the lease terminates.
life estate : means
a property interest that only exists for the duration of the holder's life. Because their stake in the land does not survive them, the owner of a life estate cannot leave it to anybody in their will. The owner of a life estate is fully permitted to occupy the property or transfer their stake during their lifetime, but they are required to abstain from wasteful activities that might impede the next owner in line from making the most of the property.
A deed that grants the land to the individual "for life" and specifies what should happen to it after that person's death creates a life estate.
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