Life estate

Definition and stakes

American School of Correspondence,  Cyclopedia of Commerce, Accountancy…

“ An estate created to exist during the life of the holder, during the life of a third person, or until an uncertain event happens or fails to happen, is called a life estate. Life estates embrace homestead estates, dower estates, and estates by the curtesy. If A gives B a farm for life, remainder in fee to C, B takes a life estate. He may sell or transfer his life estate, but no more. If A dies leaving a will, by the terms of which B, his wife, is given a farm for life, or during widowhood, B takes a life estate in the farm. ”
Source: Gutenberg

Mary A. M. Marks,  Landholding in England (1908)

“ I was born upon an estate where the life tenure was the custom, and I found that in many cases men put their children's lives on a house, and some day or other they found themselves deprived of both children and property. In other cases the lives of sailors were on, and after a time there was great doubt whether the lives were in existence or not, and generally a great deal of misery was the result of this life tenure. ”
Source: Wikisource

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