Definition of life interest in English:
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.
Definition of life interest in:
- US English dictionary
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