Legal Question in Real Estate Law in Florida

Re: need to know

A life estate is a concept used to designate the ownership of land for the duration of a person's life. In legal terms it is an ownership interest in real property that ends at death. The owner of a life estate is called a "life tenant".

Although the ownership of a life estate is of limited duration because it ends at the death of the person who is the "measuring life", the owner has the right to enjoy the benefits of ownership of the property, including income derived from rent or other uses of the property, during his or her possession. Because a life estate ceases to exist at the death of the life tenant's life, this ownership cannot be left to heirs (intestate)or devisees (testate), and the life estate cannot be inherited. At death, the property involved in a life estate (remainder) belongs to the the remainderman named in the document establishing the life estate (deed, will, etc.).