Lesson Viewed
Life Estate
This lesson will examine the life estate, the shortest freehold estate in land recognized by Anglo-American law.
Learning Outcomes
On completion of the lesson, the student will be able to:
- Define a life estate.
- Define a life estate pur autre vie.
- Define a defeasible life estate.
- Define a reversion.
- Define a remainder.
- Discuss three ways to create a life estate.
- Identify the measuring life for a life estate.
- Explain the legal characteristics of a life estate.
- Explain the legal obligations the owner of a life estate has to the holders of future interests in the property following the life estate.
- Explain a devisable life estate.
- Discuss the life tenant's rights to exclusive possession, income, and profits.
- Discuss the life tenant's duty with respect to waste.
- Discuss the methods courts will follow to determine whether a life estate results, where there is no express indication that there should be a life estate.
- Explain when it might become necessary to separate the value of a life estate from the value of future interests.
- Explain the fundamental considerations on which a court might allocate the valuations between the life estate and future interest.