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life tenant
(redirected from life estate)

    Also found in: Dictionary/thesaurus, Legal, Wikipedia 0.06 sec.
life tenant
A person entitled to the use of or the income from an asset during his or her lifetime. As an example, a person may stipulate in a will that all of his or her assets are to go to a charity but that the surviving spouse, designated as life tenant, is to have the use of the income from the deceased's estate for his or her lifetime, following which the remainder of the assets in the estate are to pass to the charity.
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But a terminable interest, such as a life estate in a trust created by someone other than the person receiving it, generally does not qualify.
Guarding marital deductions by Pulliam, Darlene / Journal of Accountancy
121 Apply to the Sale of a Life Estate in One's Primary Personal Residence?
Practical tax tips: pension plans, "trading" partnerships, reviewing ... by Williams, Leonard W. / California CPA
The injuries -- if any, and we dispute there were any -- would be to the (California Insurance) Commission, which has exclusive standing to represent the interests of the Executive Life estate," said Credit Lyonnais defense counsel Randolph Fishburn.
Decision Near in Executive Life Criminal Case by Stremfel, Michael / Los Angeles Business Journal
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