Life estate

n. (Law) estate or property that belongs to a person only during his/hers lifetime and can only be sold or transferred after the death of said person

A life estate, is a term used in common law to describe the ownership of land for the duration of a person's life. In legal terms it is an estate in real property that ends at death. The owner of a life estate is called a "life tenant". Although the ownership of a life estate is technically temporary because it ends at a person's death (a tenancy), it is treated as complete ownership (fee simple) for the duration of the person's life, subject to limitations. Because a life estate ceases to exist upon death, the owner of the life estate cannot leave it to heirs, and the life estate cannot be inherited.
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Noun
1. (law) an estate whose duration is limited to the life of the person holding it
(synonym) estate for life
(hypernym) estate
(hyponym) dower
(classification) law, jurisprudence

A right to use and to enjoy land and/or structures on land only for the life of the life tenant. - (read more on Life estate)