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Life Estates

https://www.RealEstateSchoolForSuccce.... Life estates are explained as property ownership lasting for the duration of someone's life. The video details two main types of conventional life estates: ordinary life estates, based on the life of the owner (life tenant), and estate per autre vie, based on the life of another person. It also covers legal life estates like homestead, dower and curtesy, and elective share, which are established by law to protect surviving family. Finally, the text clarifies future interests in life estates, namely reversion, where the property returns to the grantor, and remainder, where a designated remainder man receives the property upon the life tenant's death, emphasizing the remainder man's lack of control while the life tenant is alive.