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life interest

Syllabification: life in·ter·est

Definition of life interest in English:

noun

Law
A right to property that a person holds for life but cannot dispose of further.
Example sentences
  • The usufruct, or life interest, is commonly used in Spain to avoid payment of inheritance tax on half the value of the deceased's assets by a spouse.
  • The husband remarried, and in another complicated arrangement, assigned his life interest in the wife's fund to the same trustees upon trusts in favour of his second wife.
  • The way to accomplish this is by affecting a transfer of the property with retention of life interest.

Definition of life interest in:

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