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long as Monica lives. Second, if Joey conveys Blackacre to Monica for life, Monica can then sell the life estate to Rachel. Again, Rachel and Rachel's heirs will own the land for as long as Monica lives In either scenario, compare equity home loan Monica dies, the ownership of the land will revert to Joey. If Joey has died, ownership will revert to Joey's heirs. The right compare equity home loan succeed to ownership of the property upon the expiration of the life estate is called a remainder. The early common law did not 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 commonly used in trust instruments, typically in an attempt to minimize the effect of the inheritance tax or other compare equity home loan on transfers of wealth. The law of England and Wales