life estate definition

  • noun:
    • An estate in land that will be owned by a party only for the length of time of this life of that party, as well as for which ownership will return to some other upon the loss of that party.
    • an estate that is held throughout the term of some particular man or woman's life, but will not go by inheritance.
    • (legislation) an estate whose length is restricted towards the life of anyone keeping it
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