Life Tenant
The grantee who is the tenant of a life estate. When the tenant dies, the estate goes back to the grantor. For example, President Eisenhower and his wife, Mamie, were life tenants of the Gettysburg farm life estate granted by the U.S. government. Upon their deaths, the property reverted to the U.S. government as a historical site.
Popular Real Estate Terms
Timber in an original form, such as a pole. ...
Loan that allows the borrower to pay only the interest for the first few years of the loan. ...
Largest form of owner ship giving the owner complete control including the development off an inheritable estate. ...
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