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4 March, 08:12

Teagen owns a small cottage in which her elderly aunt Katie lives. Teagen wants to ensure that Katie can live in the cottage for the remainder of her life, but when Katie dies, title to the property will return to Teagen. Teagen can accomplish this objective by granting Katie a.

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  1. 4 March, 10:56
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    Life Estate

    Explanation:

    A life estate is a property owned by a person only during the lifespan of the individual. It is also called a tenant for life and a lease for life.

    A life estate is restricting because it forbids the recipient from selling the property which generates the profits before the death of the recipient.

    However the property can't go on further than the beneficiary's life.
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Home » Business » Teagen owns a small cottage in which her elderly aunt Katie lives. Teagen wants to ensure that Katie can live in the cottage for the remainder of her life, but when Katie dies, title to the property will return to Teagen.
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