Are you referring to a Life Estate?

Please see a Real Estate Attorney for Legal Advice.

In many States, the Life Estate means that the Occupant retains Title, and can remain in the property until they die. Then the right of possession passes to the new owner (legally called "The Remainder Man").

Life Estates are often used to ensure that Title passes from say, Father to Son, or Parents to Children.

It is not unusual to buy and sell Life Estates. Perhaps an investor wants to secure a good property, and the current owner can use the money. A younger investor/Buyer purchases the property from an elderly person, and grants them a Life Estate.


Caveat: often people buy Life Estates from a Senior Citizen, assuming that the Seller has maybe a few good years left. But there have been cases where the Senior Seller lives into their 90's or beyond, and ends up outliving the Remainder Man.

Again, see a Real Estate Attorney when dealing with complex Deeds like Life Estates.

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Best wishes,
Fred Griffin
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