Life of rights agreement

A live just officially announced as a sequence of life, is the right to possess and use a piece of real estate for the lifetime of the individual. The dealer a lifetime domain is known as a "life tenant" or an "owner-to-right," while the grantor is known as a "owner having." StructureA life estate provides real estate owner to the sole grant exclusive use and control of the property permanently to another person without property. The dealer to take ownership of his life but the property back to the grantor on death.Pur concessionaire VieOne can another grant rights of life "pure other life", literally "another life" – with the appointment of someone else life. For example, of a rights third selfless may designate the life of a concessionaire for the lifetime of a grantor. Death of the third party property terminates.ReconveyanceAn owner to right of the concessionaire may sell, rent or otherwise transfer his interest in the estate of life to someone else. However, the new licensee can only keep the same interest as owner-to-right and property of the new dealer closes at the end of the specified lifetime.InheritanceIn most cases, a right owners can leave his successors no sequence of life. However one agreement, a pure other life beneficiaries can inherit interest of owner-to-right for the rest of the lifetime of the named.