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life tenant

   Also found in: Legal, Financial, Wikipedia 0.04 sec.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.life tenant - a tenant whose legal right to retain possession of buildings or lands lasts as long as they (or some other person) live
tenant - a holder of buildings or lands by any kind of title (as ownership or lease)


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1014(b)(9), which allows the heirs to take the property with a stepped-up basis equal to its FMV at the lime of the life tenant's death if the life tenant retains his interest in the property at death (Sec.
Transferring the personal residence: income and transfer tax planning ... by Belkin, Eileen W. / The Tax Adviser
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