Legal Question in Wills and Trusts in California

Re: what is a life estate

With a Life Estate you own the real property until you both die. You may rent it, sell it (the life estate only), live on or in it, and collect all rents and profits from it. You are also normally responsible to maintain, pay all the maintenance cost, and taxes on the property. However, this depends if you were given the property by a deed, or were given the property as a beneficiary of a trust.

Re: what is a life estate

A life estate is the right to use (and/or rent) the property until you die.

Re: what is a life estate

It can be a right to live in a property, or the right to receive income from a property, for life.