Legal Question in Wills and Trusts in Texas
Life Estates
COuld you please explain what a life estate is in texas.
Asked on 2/25/02, 8:30 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Life Estates
A life estate is an interest in real property that lasts for the life of the recipient. It entitles them to rents, profits, royalties, and other benefits of ownership of the property, but they cannot sell the property, give it away, deed it in a will, or damage or destroy the property. They are also responsible for the insurance and taxes. All their rights end with their death, and the interest in the property reverts to the person named as remainderman.
Answered on 2/26/02, 10:20 am