Business / Real Estate / Conventional Life Estate: A conventional life estate is created intentionally by the owner. It may be established either by deed at the time the ownership is transferred during the owners life or by a provision of the owners will after his or her death. The estate is conveyed to an individual who is called the life tenant. The life tenant has full enjoyment of the ownership for the duration of his or her life. When the life tenant dies, the estate ends and its ownership passes to another designated individual or returns to the previous owner.
Conventional Noun Synonyms: customary, habitual,ual, normal, regular, standard, orthodox, traditional, established, ordinary, everyday, common, commonplace, accustomed, received, agreed, reactionary, old-fashioned, stodgy, stuffy, old hat
Estate Noun Synonyms: property, holdings, domain, demesne, land, landed estate, manor, mansion
Life Noun Synonyms: existence, living, way of life, lifestyle
Life Verb Synonyms: existence, entity, being, sentience, viability
Business / Taxes / Probate Estate: Your probate estate includes all of the assets that will pass to your heirs through your will. It doesn’t include anything that you have sold, given away, put into trusts, or passed directly to reci MORE
Business / Finance / Real Estate: A piece of land and whatever physical property is on it. MORE