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05 November 2009

A Life Estate

At the risk of oversimplifying, a "life estate" in property (generally a widow) is the right to use the property and receive income from the property during the person's lifetime. They do not have the right to bequeath the property to someone or to sell it. Oftentimes a widow is given a "life estate" in a piece of property from her husband and in so doing, he specifies to whom it is to pass after her death.

2 comments:

  1. I have nominated you for the Kreativ Blogger award.

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  2. I also selected you to receive the Kreativ Blog Award, http://findyourfolks.blogspot.com/2009/11/kreativ-blog-award.html

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