15:30
fucking seriously dude we're readinf 1l of a ride
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LSDefine
Simple English definitions for legal terms
lives in being
Read a random definition: concurrent sentence
A quick definition of lives in being:
Term: Lives in Being
Definition: When someone owns a piece of land, they can transfer ownership to someone else. However, the transfer can only happen if there are people alive who could potentially inherit the land. These people are called "lives in being." For example, if a person wants to give their land to their children, they can only do so if their children are alive at the time of the transfer. If the children are not alive, the land cannot be transferred to them.
A more thorough explanation:
Definition: Lives in being refers to individuals who are alive at the time of a particular conveyance of real property. This means that the property can only be passed on to people who are currently alive.
- John wants to leave his house to his children. However, he can only leave it to his children who are currently alive at the time of his passing. If any of his children have already passed away, their share of the property will go to their own children.
- A wealthy landowner wants to donate a piece of land to a conservation organization. The land can only be given to individuals who are currently alive and can maintain the land for conservation purposes.
These examples illustrate how the term "lives in being" is used in real estate and property law. It ensures that property is only passed on to individuals who are currently alive and able to take ownership or maintain the property.