Conventional Life Estate at Life

Conventional Life Estate. In a conventional life estate, a life tenant will hold a life estate for the duration of their own life. Since 1925 a life estate can exist only as an equitable interest behind a trust.

In a conventional life estate, a life tenant will hold a life estate for the duration of their own life. It is based on the life of a life tenant or another person. When an owner of a home signs a life estate, they are in effect passing part of the ownership of a home to another person.

Civil Litigation

When an owner of a home signs a life estate, they are in effect passing part of the ownership of a home to another person. However, as explained below, that person doesn't have to be the life tenant. As soon as the person, on whose life the life estate is based, has died, the life estate ends. A fee simple owner grants the life estate to a life tenant.