Life Estates and Introduction to Remainders
Explore all aspects of the creation and configuration of life estates, the corresponding future interests (i.e., reversions and remainders), and the obligations of the life tenant and the reversioner or remainderman.
Welcome to our first clip on life estates and remainders! In this clip, we’ll introduce the life estate, a present interest, along with its corresponding future interest, the “remainder,” or “reversion.” Next, we’ll discuss some key terminology. After this, we’ll discuss the creation and configuration of life estates, along with some of the responsibilities of the life tenant relative to the holder of the future interest. We’ll end with a quick discussion of various ways to bring...