close
    What is an ownership interest in property that is less than complete and can terminate at some point

    0  Views: 1763 Answers: 2 Posted: 11 years ago

    2 Answers

    It is best to see a lawyer. We answer general questions.

    Sure.  I'll give you one:  LIFE ESTATE


    Suppose I am a rich man and would like to give a house to my doctor, with one catch.  He must to keep me healthy in order that I can live as long as possible.  This is called a  Life Estate.  What is it?  Well, my doctor gets to live in a very wonderful mansion for as long as I am alive.  He, in essence, owns the property like any owner would for as long as I live. Hence, his ownership of this property is predicated on the existence of my life, not his.   As soon as I die, the ownership to this life estate ceases to exist, and my property now reverts back to my heirs.



    Top contributors in Uncategorized category

     
    ROMOS
    Answers: 18061 / Questions: 154
    Karma: 1101K
     
    Colleen
    Answers: 47270 / Questions: 115
    Karma: 953K
     
    country bumpkin
    Answers: 11322 / Questions: 160
    Karma: 838K
     
    Benthere
    Answers: 2392 / Questions: 30
    Karma: 760K
    > Top contributors chart

    Unanswered Questions

    kysportsorg
    Answers: 0 Views: 7 Rating: 0
    Sky88
    Answers: 0 Views: 8 Rating: 0
    diyasharmaji
    Answers: 0 Views: 10 Rating: 0
    iii666666
    Answers: 0 Views: 9 Rating: 0
    iii666666
    Answers: 0 Views: 12 Rating: 0
    AAAAAA
    Answers: 0 Views: 13 Rating: 0
    Buy TikTok Followers from Tokmatik
    Answers: 0 Views: 13 Rating: 0
    > More questions...
    451719
    questions
    719500
    answers
    751736
    users