Definition of life interest in English:

life interest

Line breaks: life inter|est

noun

[mass noun] Law
  • A right to property that a person holds for life but cannot dispose of further: [as modifier]: a life-interest trust
    More 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.

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Word of the day skosh
Pronunciation: skəʊʃ
noun
a small amount; a little