What happens to a conventional life estate when the measuring life ends?
Staff Q&A from the 63Hours team.
Ask clear questions about the Florida real estate course and learn from course-specific answers.
What happens to a conventional life estate when the measuring life ends?
Staff Q&A from the 63Hours team.
The life estate ends and possession follows the future interest created in the instrument. A reversion returns to the grantor; a remainder belongs to the named future holder. The measuring life may be someone other than the life tenant. Trace the wording instead of assuming the life tenant can leave that same life estate indefinitely to heirs.
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Discussion prompt: Whose lifetime measures the estate, and who holds the future interest?