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life interest

   Also found in: Wikipedia 0.03 sec.
life interest
n
(Economics, Accounting & Finance / Banking & Finance) interest (esp from property) that is payable to a person during his life but ceases with his death
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{full thirds = Old Monson's widow would under American common law receive a life interest in one-third of his real property, called a dower right, which would revert to his children if she died without remarrying.
Autobiography of a Pocket-Handkerchief by Cooper, James Fenimore View in context
By Uncle Jaffrey's last will and testament, as you are aware, his entire property was bequeathed to me, with the single exception of a life interest to yourself in this old family mansion, and the strip of patrimonial estate remaining attached to it.
House Of Seven Gables by Hawthorne, Nathaniel View in context
The same love of gain which led him to contract this marriage, led to its being kept strictly private; for a clause in her father's will declared that if she married without her brother's consent, the property, in which she had only some life interest while she remained single, should pass away altogether to another branch of the family.
The Life and Adventures of Nicholas Nickleby by Dickens, Charles View in context
 
 
 
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