A life estate allows a person to do what?

A life estate provides a unique form of property ownership that lasts for the lifetime of a designated individual, known as the life tenant. This arrangement permits the life tenant to live on and utilize the property in a manner consistent with ownership during their lifetime. They can occupy the property, make improvements, and generate income from it, as long as they do not waste the property or violate any legal rules or restrictions.

Upon the death of the life tenant, the property does not belong to their estate but instead automatically passes to a specified remainder beneficiary—this is typically established in the initial deed or agreement creating the life estate. Consequently, while a life tenant has significant rights to use and benefit from the property, their rights do not include selling or transferring the property outright, as they cannot convey a greater interest than they possess, which is limited to their lifetime. This limitation underscores the transient nature of a life estate and emphasizes that the value of the property ultimately passes to the designated heirs or beneficiaries after the life tenant's death.