Measuring Life (Life Estates) Law and Legal Definition
Since the life estate is an estate whose duration is limited to the life of the individual holding the estate, life estates are usually measured by the life of the property recipient. Life Estate can also leave an asset to be owned by one person until the death of third person .If an older relative has become incapacitated, such that it is difficult for them to make decisions for themselves, then the asset can be left in the care of another for the incapacitated person's lifetime. For example, if A conveys land to B during the life of C, then B owns the land for as long as C lives. In this instance, C's life is what is called, the measuring life of the life estate, and B's ownership ends when C is gone.
Legal Definition list
Related Legal Terms
- Abuse in Later Life Program [Department of Justice]
- Accelerated Life Insurance Benefits
- Adjustable Life Insurance
- Administration of Estates
- Adolescent Family Life Act
- Advanced Life Support [ALS]
- Advanced Life Underwriting
- Aggregate Lifetime Limit
- American Folklife [Education]
- Association of Fish and Wildlife Agencies
