life estate :

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life estate

  • n  (law) an estate whose duration is limited to the life of the person holding it
News & Articles

  • Clock is ticking for last Apostle Islands lifers
    When the Apostle Islands were turned into a national park, a small number of property owners chose a life estate — allowing them to stay tax-free until they died. Seven owners remain.
    Aug. 18, 2013 - Milwaukee Journal Sentinel

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