A right to property that a person holds for life but cannot dispose of further.
〔律〕终生权益（指个人对产业的终生保有权，但不能享有进一步处置权）
as modifiera life-interest trust
Example sentencesExamples
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.
The donor's property now consists principally of a life interest in her late husband's estate, a 50% share in their house, other real property, cash on deposit and some investments.
But they would still have created the same life interest, and any difference in the trusts in remainder was immaterial to that.
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.
Definition of life interest in US English:
life interest
nounlīf ˈint(ə)rəst
Law
A right to property that a person holds for life but cannot dispose of further.
〔律〕终生权益（指个人对产业的终生保有权，但不能享有进一步处置权）
as modifiera life-interest trust
Example sentencesExamples
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.
But they would still have created the same life interest, and any difference in the trusts in remainder was immaterial to that.
The donor's property now consists principally of a life interest in her late husband's estate, a 50% share in their house, other real property, cash on deposit and some investments.
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 way to accomplish this is by affecting a transfer of the property with retention of life interest.