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life estate
noun [C] LAW, PROPERTYDefinition
› the legal right to own and control a property, such as a building or piece of land, for the length of time that you are alive: The life estate deed allows the older couple to own the house for the rest of their lives. → Compare freehold noun, leasehold noun
(Definition of life estate noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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