life interest


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life interest

n
(Banking & Finance) interest (esp from property) that is payable to a person during his life but ceases with his death
References in classic literature ?
She was herself aggrieved at being left with nothing more than a life interest in her husband's property; she sided resolutely with Michael; and she stigmatized Andrew's proposal as an attempt to bribe her eldest son into withdrawing a charge against his brother which that brother knew to be true.
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."
{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.}
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.
Was the said Miss Schlegel to have a life interest in it, or to own it absolutely?
The description of Hirst's way of life interested Rachel so much that she almost forgot her private grudge against him, and her respect revived.
This type of trust is called a Life Interest Trust and is sometimes marketed as a Property Protection Trust."
If it is your principal dwelling then you will need to reserve yourselves a life interest in the property to prevent the property being sold during your life times potentially leaving you without your home.
The woman opposed the application, saying it lacked in merit; that she is innocent of murder until proven guilty; she is entitled to the personal effects and household goods of the deceased and a life interest in the residue of the estate.
The 'very personable' Alice Clewes, who 'provides tailored, easy-to-follow and practical advice', assisted a client with life interest trust matters, and advised a testator on a will and estate planning issues including personal company shares, residential property with agricultural land and a life interest in an overseas settlement.
So nowadays, under the new law the parents in order to have some sort of safety, they can transfer the property, retaining a life interest. That is, the parents have use of the property for as long as they live (including rental, development) duly registered on the title.
The premier commercial town of Solano serves as resting place and night life interest for local and foreign tourists.