Legal Question in Wills and Trusts in Texas

Re: What is a life estate as stated in a will?

A Life Estate is an ownership arrangement for land where a deed is created in which the current owner conveys partial ownership to another person (called a "remainder interest") and the current owner keeps the "life estate."

Under a life estate the current owner can occupy and use the property and will get all money that may come from the property (For example: rental income or sales proceeds). Also the property is still his homestead under Texas law.

A main reason one creates a life estate is because of the remainder interest. When the current owner dies, his life estate expires and the remainder interest becomes a full "fee simple" title (full and unrestricted ownership). Change in ownership happens by operation of law, and does not require any legal process like probate.

Re: What is a life estate as stated in a will?

Your husband's life estate entitles him to rents, profits, and income from the property until he dies. At that time, his interest in the property will revert to the remainderman of the estate. He can't transfer ownership of the property because he doesn't own it; all he has is a monetary interest.