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Simple English definitions for legal terms

life tenant

Read a random definition: inter regalia

A quick definition of life tenant:

A life tenant is someone who has the right to use and benefit from a property for as long as they live or for the life of another person. They can rent or sell their interest in the property, but they cannot sell the property outright. When the life tenant dies, the property goes to the remainderman. The remainderman is the person who will own the property after the life tenant dies.

A more thorough explanation:

A life tenant is a person who has a limited interest in an estate or property that lasts only for their lifetime or the lifetime of another person. This means that they have the right to use and enjoy the property during their lifetime, but they cannot sell or transfer the property to someone else in a way that would extend beyond their lifetime.

For example, if John owns a house and grants a life estate to his son, Tom, then Tom has the right to live in the house and use it during his lifetime. However, he cannot sell the house to someone else or leave it to his heirs when he dies. When Tom dies, the property will pass to the remainderman, who is the person designated by John to inherit the property after Tom's death.

It's important to note that a life tenant can sell or rent their interest in the property, but only for the duration of their lifetime. For example, Tom could rent out the house to someone else, but the lease would end when Tom dies and the property passes to the remainderman.

Overall, a life tenant has a limited interest in a property that lasts only for their lifetime or the lifetime of another person. They have the right to use and enjoy the property during their lifetime, but they cannot sell or transfer the property to someone else in a way that would extend beyond their lifetime.

life insurance trust | life without possibility of parole

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18:45
In State would be Illinois, I don't quite know where I want to be though. Not applying till end of 2024.
KnowledgeableRitzyWasp
18:47
@TruthTheX: praying for your gulc uprising
19:15
Ty me too 🙏
19:15
@Silver: if you want to practice in IL then there’s likely no better school than the in state schools
@SpectacularDefiantMouse: yeah, like condemnedpuffygnome, I'm not really preparing for law school by taking some courses or anything like that. The only way I'm going to be preparing is by getting myself into a rhythm schedule-wise, well enough in advance of the first day of classes, that I think will be necessary for me to do well 1L.
I'm very much not in rhythm now. lol. But I've 3-ish months.
19:55
@Silver: Cost of attendance is what matters. $37K in-state tuition = $47K sticker price with a $10K scholarship elsewhere, $70K sticker with a $40K scholarship is better than either, $40K sticker with a $0 scholarship worse than both.
19:55
(Assuming placement etc. is comparable)
Congrats on Harvard, jb2028. Any reason you applied to A&M but not Texas at Austin? Seems odd.
19:58
@BankruptcyAndRestructuringLawIsCool: Family connection, they gave me a CAS waiver so it was free
Question for the chat about judicial internships (not externships). My understanding is that judicial internships (as opposed to externships) during the summer are unpaid. How, then, do people who get them pay living expenses during the summer? Do they just make loans stretch for 12 months when they're only meant for 9? I heard that some people supplement the internship with, e.g., a research assistant position with a law professor. But would such a person both do the internship and the RA position at the same time? And if so, is that too much work or feasible?
I don't know what the workload is really like for judicial internships and RA positions.
Also curious what other things people might do to supplement an unpaid judicial internship over the summer with something paid.
20:20
@BankruptcyAndRestructuringLawIsCool: Many schools will provide some type of stipend for unpaid summer roles with a public interest employer (defined broadly, often includes any gov or judicial job)
Right, I thought so. At BU, though, it appears that what's called BU's public interest project grant is not available to supplement judicial internships. And I think its public service summer funding is also limited. Oh well.
21:13
@BankruptcyAndRestructuringLawIsCool: FWIW they allude to some type of funding ("BU Law has implemented separate funding sources for judicial interns") in this packet https://www.bu.edu/law/files/2023/11/Public-Service-Summer-Funding-Applicant-Packet-2024.pdf
21:13
Although they don't give details, and as you note they don't guarantee funding to everyone (which is in line with other $ they offer, e.g. the LRAP)
21:14
Anyone know how hard it is to do pro bono work as a 1L for judges or fed gov in general in the D.C. market
21:14
Idk much about pro bono opportunities period but thinking I wanna try to get some work experience as soon as humanly possible
21:14
When I begin law school I mean
21:15
Lines up with BU's limited endowment: $81K per student a few years ago, i.e., enough to support a payout of about $3,250 per student per year at a 4% payout rate https://leiterlawschool.typepad.com/leiter/2022/05/per-student-value-of-law-school-endowments-2021.html
21:17
Seems like they're trying to compete with other schools on program headlines (we fund X, Y, and Z and we have an LRAP) but the endowment can't really support that, so they have all these programs but don't guarantee funding. Would not rely on that if you have alternatives.
Thanks for those links. I'll give the public service summer funding information packet, in particular, a careful read. But yeah, your takeaway seems right.
KnowledgeableRitzyWasp
22:33
i could really use some fried chicken right now
KnowledgeableRitzyWasp
22:34
kfc or popeyes
KnowledgeableRitzyWasp
22:34
or korean with gochujang
KnowledgeableRitzyWasp
22:35
i might order some gochujang sauce on amazon and cook some air fried chicken breast filets, they’re really good
KnowledgeableRitzyWasp
22:35
just letting you guys know :)
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