1555 Palm Beach Lakes Blvd Suite 1410

West Palm Beach, FL 33401

24/7 Customer Support

What Is a Life Estate? Definition, Uses and Importance.

Jump To Section

Copy the following HTML iframe code to your website:

Share This

A person’s ownership of real estate changes depending on the type they hold. If you only have a right to possession for your life, then it will pass onto someone else after yours.

A life estate is a special type of co-ownership. The property is co-owned by a life tenant and a so-called “remainderman.” As the name implies, the remainderman owns property but cannot take possession until the life tenant dies. The life tenant may occupy the property but may not sell or mortgage it without the remainderman’s consent.

The life estate is established through a deed that indicates that the property’s occupant(s) may utilize it for the remainder of their lives. Additionally, the deed will specify who would inherit the property upon the life tenant’s death.

« Back to Glossary Index
Search for more common probate terms
Search

Get Your Inheritance Money Now!

Our Inheritance Cash Advances help heirs receive a portion of their inheritance payout in just a few days. We then wait and are paid directly out of your share when the estate finally closes. We wait for probate so that you don’t have to. Click below and fill out our short form to receive an advance immediately.

Probate Costs
Play Video

If you are an Heir or Executor to an Estate, You Don’t Have To Wait For Probate!

Inheritance advanced Logo
comodoCreated with Sketch.
employee_ownedCreated with Sketch.
bbbCreated with Sketch.
customer_satisfactionCreated with Sketch.

Inheritance Advanced is an inheritance funding company, not a lender. We offer Inheritance Cash Advances which are a new and innovative option for heirs to receive the immediate cash they need during challenging times. This program allows an heir the benefit of receiving immediate money, in exchange for their future inheritance.

Inheritance advances are a way for heirs to receive immediate funds without providing credit or employment verification and they don’t require collateral. You also will not be responsible for high monthly interest payments like probate loans or inheritance loans.