measuring life

measuring life

The person whose life span determines the duration of a life tenant's entitlement to possess and use real property.Typically,property is given or left by will to someone to use “for and during their natural lifetime”and then the document specifies who gets the property afterward. In the typical case, the life tenant is also the measuring life; when the life tenant dies, the right to use the property also dies at the same time.

Example: A different variety of life tenancy might give property “to Alice and her heirs, for and during the lifetime of Nate,” with Nate being a baby born two days earlier. Nate is the meas- uring life. When Nate dies, Alice or her heirs will cease to have any interest in the property. It does not matter if Nate dies one week later or 100 years later, the life estate ends when he dies. At the end of the measuring life, the property passes to a previously specified remainderman.

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References in classic literature ?
You are measuring life by its length, when its depth alone is of any import.
The study published in the journal -- Population Studies -- introduced a new way of measuring life expectancy, accounting for the historical mortality conditions that today's older generations lived through.
Measuring life event stress in the lives of college students: The undergraduate stress questionnaire (USQ).
'Measuring life by what others do to us may disappoint us.
This scale developed by Diener, Emmons, Larsen & Griffin (1985) has been used for measuring life satisfaction.
Although the SWLS (Diener et al., 1985) is the most used scale for measuring life satisfaction, their same authors (Pavot & Diener, 1993) suggested it would be interesting to further explore the construct in terms of the three time frames of reference.
"When you get into intergenerational and you structure it as you can under the economic benefit, you necessarily are factoring in a huge discount because you're dealing with the measuring life being much younger," he adds.
While many clients purchase annuity products with an aim toward generating secure retirement income, an annuity product may also be useful in the estate planning context, as it can pay out a death benefit upon the death of the annuity owner or the annuitant (the individual whose age and sex is used in determining the amount of the annuity payments--also known as the contract's measuring life).
At Lichfield Cathedral a special tribute took place, and posters there quoted Stephen: "I don't see the point in measuring life in terms of time anymore.
"This is most evident in the connection between nightmares and depression, but also apparent in many other analyses involving nightmares and questions measuring life satisfaction and health," said lead study author Nils Sandman, researcher in the centre for cognitive neuroscience
Another legal obstacle for pet trusts is the rule against perpetuities, which generally provides that an interest in property must vest, if at all, not later than 21 years after the death of someone alive when the interest was created (a measuring life).
Before his death, Stephen, who was diagnosed aged just 15, said: "I don't see the point in measuring life in terms of time any more.