What is the defining feature of a Life Estate?

A Life Estate is a type of property ownership where the duration of the estate is explicitly tied to the life of a specified individual, often referred to as the "life tenant." This means that the holder of the life estate has the right to use, possess, and benefit from the property during their lifetime, but this right is limited because the estate terminates when that individual passes away. The property then typically reverts to another designated party, known as the remainderman.

This characteristic is significant because it differentiates a life estate from other forms of property ownership, such as a fee simple estate, which does not have a set expiration linked to an individual's life. The emphasis on duration based on a person's life is what primarily defines a life estate and shapes its legal implications, including the rights of the life tenant and the remainderman.

While the other options may relate to different aspects of property law—such as inheritance rights, concurrent ownership, or conditions of termination—they do not capture the specific, defining feature of a life estate as accurately as the connection to the lifespan of an individual.