Life Estate
Ownership of property measured by the duration of a person's life, after which it passes to a remainderman or reverts to the grantor.
Quick flashcard
What does Life Estate mean on the Texas real estate exam?
Answer: Ownership of property measured by the duration of a person's life, after which it passes to a remainderman or reverts to the grantor.
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Life Estate definition
A life estate gives the holder full use of the property for the duration of a measuring life, usually their own. When that life ends, the property passes to a named remainderman or reverts to the original grantor. The life tenant has the right to use and enjoy the property but cannot damage or diminish its value.
The life tenant must maintain the property, pay property taxes, and avoid waste. Failing to pay property taxes is considered waste.
Source basis
Definition checked against the official sources below on .
On the exam
Exam trap
Tested in
Ownership & Title (9 of 80 National)
From definition to recall
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