A life estate terminates upon:
Correct Answer
B) The death of the measuring life
A life estate is an ownership interest that lasts only for the duration of a specified measuring life, which is most commonly the life tenant themselves. Upon the death of the measuring life, the life estate terminates and the property passes to the remainderman (if a remainder was granted) or reverts to the original grantor (if a reversion was retained). In Iowa, a life tenant may sell or transfer their interest, but the buyer only receives an interest that lasts as long as the original measuring life.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
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