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Life Estate Ownership of Real Estate Advantages Form

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Life Estate Ownership of Real Estate Advantages Form

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uh life estate is simply a different way of breaking down an interest in real estate normally when we think of real estate we're used to breaking real estate down into parcels or different sections different chunks of land but we can also break down ownership in in real estate into interest in time for example if i were to own a piece of real estate for a year or two years or for my entire life that's a different type of ownership so say i own that that interest in real estate for my entire life and after i pass away someone else owns that interest and they automatically take over my interest in that property is said to be a life estate well there's different reasons people will create a life estate number one some people may use it as an estate planning mechanism when we look at a life estate life estates will avoid the probate process when you create a life estate you have the current interest for the lifetime of the person that holds the the current life esta

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