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The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
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7. Don’t overlook your own estate planning. Dealing with the aftermath of losing your spouse requires a lot of attention and time. But what not to do financially after losing a spouse is ...
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The death penalty was outlawed between 1914 and 1920, again between 1964 and 1978, and then again between a 1981 Oregon Supreme Court ruling and a 1984 ballot measure. Oregon voters amended the Constitution in 1914, to repeal the death penalty, by a margin of 50.04%. The repeal was an initiative of Governor Oswald West. [10]
A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum than he has (such as the owner of a fee simple granting a life estate or a leasehold estate).
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On the life tenant's death, the trust comes to an end, and the capital of the trust is paid to another person, known as the remainderman, as specified by the trust document. One form of life interest is a life estate , an ownership interest in property that lasts for the life of the party to whom it has been granted.