What is Life Estate? | REAL-ESTATE-SALESPERSON Exam Prep

A life estate is a freehold ownership interest in real property that lasts only for the lifetime of a designated person (the life tenant), after which the property passes to another party. 📚 Learn more about Life Estate and other key terms for your REAL-ESTATE-SALESPERSON exam at Open Exam Prep. 🎯 This term appears on: REAL-ESTATE-SALESPERSON 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Life Estate definition: https://www.open-exam-prep.com/glossary/life-estate 💡 Exam Tip: Life estate lasts for someone's LIFETIME. Life tenant cannot commit waste. Remainderman gets property automatically at death. Pur autre vie = measured by another's life. --- #real-estate #examprep #financeexam #real-estate-salesperson