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Simple English definitions for legal terms
equitable life tenant
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A quick definition of equitable life tenant:
An equitable life tenant is a person who has the right to use and benefit from a property until they die. They are not automatically entitled to possession of the property, but they can make an election to a person of that status, such as a spouse, and a court will usually grant possession if security or an undertaking is given. A legal life tenant, on the other hand, is automatically entitled to possession by virtue of a legal estate.A more thorough explanation:
An equitable life tenant is a person who holds a life estate in a property and is entitled to its benefits until their death. They are also known as a tenant for life or a life-owner.
There are two types of life tenants: legal and equitable. A legal life tenant is automatically entitled to possession of the property, while an equitable life tenant is not automatically entitled to possession but can make an election allowed by law to a person of that status, such as a spouse.
For example, if John owns a property and grants a life estate to his wife, Mary, she becomes the equitable life tenant. If Mary decides to live in the property, she can make an election to possess it, and the court will grant her possession if she provides security or an undertaking.
Another example is if a parent grants a life estate to their child. The child becomes the equitable life tenant and can make an election to possess the property.