Legal Question in Wills and Trusts in California

You should have an attorney help you and explain what a "life estate" is. Buying a "life estate" is different than buying fee simple title (which is what buyers generally buy) to property. In short the owner of a "life estate" does not own the property.

Be careful as you're not buying fee simple in the property. You're only buying whatever that person can sell you. Meaning it sounds like he bought the life estate from someone who had it and is now pawning it off on you. You see the life estate terminates when the original transferor dies, not when you die and not when the transferee who becomes a transferor to you dies. You ought to find out who the original transferor is as the original life in being could be quite old and the value of the interest grossly overstated. Note people can keep selling this interest but it will not change who's death counts as the end.

Mr. Kubler is exactly right. If the person who inherited the life estate is old, or if they merely get hit by a truck the day after you close escrow, you will have paid for literally nothing but a worthless piece of paper.