14:33
Im sure u can figure it out, just maybe make a copy if possible of both sources, that way if u mess up u do not corrupt ur original data
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LSDefine
Simple English definitions for legal terms
life estate
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A quick definition of life estate:
A life estate is when someone has the right to use a piece of land for their whole life, but they can't give it to anyone in their will because their right to the land ends when they die. They can use the land and even sell their right to someone else, but they can't do anything that would damage the land for the next person who will use it. A life estate is created by a special paper that says who gets the land after the person with the life estate dies.
A more thorough explanation:
A life estate is a type of property ownership that lasts only for the lifetime of the holder. This means that the holder of a life estate cannot leave the property to anyone in their will because their interest in the property ends when they die.
The holder of a life estate has the right to possess the property and transfer their interest during their lifetime, but they must not engage in any activity that would prevent the next person in line from using the property fully. This is called "waste."
A life estate is created by a deed that gives the property to the person "for life" and identifies what should happen to it after that person dies. For example, a deed stating that a house would go "to John Doe for life, then to Jane Doe" gives John a valid life estate, and Jane a remainder. John can use the house during his lifetime and even sell his interest to a third party, but that third party would have to surrender the property to Jane upon John's death.
Another example of a life estate is when a parent gives their child the right to live in their house for the rest of their life, but the house will go to another family member after the child dies.
These examples illustrate how a life estate works by showing that the holder of a life estate has the right to use and enjoy the property during their lifetime, but they cannot leave it to anyone in their will because their interest in the property ends when they die.