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life estate

   Also found in: Legal, Financial, Wikipedia 0.01 sec.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.life estate - (law) an estate whose duration is limited to the life of the person holding it
law, jurisprudence - the collection of rules imposed by authority; "civilization presupposes respect for the law"; "the great problem for jurisprudence to allow freedom while enforcing order"
estate - everything you own; all of your assets (whether real property or personal property) and liabilities
dower - a life estate to which a wife is entitled on the death of her husband

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But a terminable interest, such as a life estate in a trust created by someone other than the person receiving it, generally does not qualify.
121 Apply to the Sale of a Life Estate in One's Primary Personal Residence?
The injuries -- if any, and we dispute there were any -- would be to the (California Insurance) Commission, which has exclusive standing to represent the interests of the Executive Life estate," said Credit Lyonnais defense counsel Randolph Fishburn.
 
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