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LSDefine

Simple English definitions for legal terms

life estate

Read a random definition: utility patent

A quick definition of life estate:

A life estate is when someone has the right to use a piece of land for their whole life, but they can't give it to anyone in their will because their right to the land ends when they die. They can use the land and even sell their right to someone else, but they can't do anything that would damage the land for the next person who will use it. A life estate is created by a special paper that says who gets the land after the person with the life estate dies.

A more thorough explanation:

A life estate is a type of property ownership that lasts only for the lifetime of the holder. This means that the holder of a life estate cannot leave the property to anyone in their will because their interest in the property ends when they die.

The holder of a life estate has the right to possess the property and transfer their interest during their lifetime, but they must not engage in any activity that would prevent the next person in line from using the property fully. This is called "waste."

A life estate is created by a deed that gives the property to the person "for life" and identifies what should happen to it after that person dies. For example, a deed stating that a house would go "to John Doe for life, then to Jane Doe" gives John a valid life estate, and Jane a remainder. John can use the house during his lifetime and even sell his interest to a third party, but that third party would have to surrender the property to Jane upon John's death.

Another example of a life estate is when a parent gives their child the right to live in their house for the rest of their life, but the house will go to another family member after the child dies.

These examples illustrate how a life estate works by showing that the holder of a life estate has the right to use and enjoy the property during their lifetime, but they cannot leave it to anyone in their will because their interest in the property ends when they die.

life beneficiary | life estate pur autre vie

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BluePacedCephalopod
10:39
whats their policy?
starfishies
10:39
@2big2fail: decisions are being stalled for a lot of people, holding onto a's is important for negotiations and personally ive mentally flip flopped a lot on schools
sweettea
10:40
almost no one gets initial aid and you have to submit offers from other t14s and explain why u think u deserve aid and how much
starfishies
10:40
oh no
sweettea
10:40
They call it reconsideration
starfishies
10:40
not them making everyone beg for aid
sweettea
10:40
honestly!! who do you think I am
starfishies
10:41
rich apparently
sweettea
10:41
yupppppp
2big2fail
10:42
@starfishies: how late do you think decisions can be stalled for?
BluePacedCephalopod
10:42
...and what if i don't have any other t14 offers for leverage :/
starfishies
10:43
nyu made some early-ish applicants wait until late april/may for an r/wl lol
starfishies
10:43
last year
sweettea
10:45
@BluePacedCephalopod: they dgaf
sweettea
10:46
sticker price time
sweettea
10:46
also they won’t consider offers from cornell or northwestern
sweettea
10:46
or HYS
sweettea
10:47
so if u don’t have offers from a specific group of nine schools you’re paying sticker at Berkeley? wtf. just so weird to me
sweettea
10:49
I think we should all reapply next year, apply ED to quinnipiac, and call it a day
sweettea
10:49
Nothing hurts anymore in the big Q
MeowPossibilities
10:50
Do you guys think if im WL places extra LORs help
starfishies
10:51
i dont think they can afford all of us sadly
starfishies
10:51
i dont think extra LORs hurt but to what extent it would help i dunno
starfishies
10:51
extra LORs during WL season is fairly common practice
eggan
10:52
berk says no LOR
eggan
10:52
i def could have gotten another one but idk
starfishies
10:53
berk has some interesting policies
2big2fail
10:54
@eggan: they told you no additional LOR?
sweettea
10:54
berking off
sweettea
10:55
in the stripped club. straight up “berking it” and by “it” , haha, well let’s justr say
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