| building survey or a (cheaper) "homebuyers survey" at the same time. Since it ends at death, and the owner of the life estate cannot leave it to his heirs or convey a larger interest in the land than what home equity loan tampa florida owner actually owns, a life estate is not an estate of inheritance. Life estates are measured either by the life of the owner of the estate, or by the life of some other person; these latter are called life estates pur autre vie, Law French for "during someone else's life." A life estate home equity loan tampa florida autre vie is most commonly created in one home equity loan tampa florida two circumstances. First, when the owner of property conveys his interest in that property to another person, for the life of a third person. For example if Joey conveys Blackacre to Rachel during the life of Monica, then Rachel owns the land for as long as Monica lives; if Rachel dies before Monica, Rachel's heirs will inherit the land, and will continue to own it for as long as Monica lives. Second, if Joey conveys Blackacre to Monica for life, Monica can then sell the life home equity loan tampa florida to Rachel. Again, Rachel and Rachel's heirs will own the land for as long as Monica lives In either scenario, once Monica dies, the ownership of the land will revert to Joey. If Joey has died, ownership will revert to Joey's heirs. home equity loan tampa florida right to succeed to ownership of the property upon the expiration of the life estate is called a remainder. The early common law did home equity loan tampa florida recognize a life estate in personal property, but such interests were cognizable in equity. Thus, although life estates in real estate are still created today, the life estate is more |  |
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