Meaning of “life estate” in the English Dictionary

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"life estate" in Business English

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life estatenoun [ C ]

uk us LAW, PROPERTY

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.

(Definition of “life estate” from the Cambridge Business English Dictionary © Cambridge University Press)