A life interest (or life rent in Scotland) is some form of right, usually under a trust, which lasts only for the lifetime of the person benefiting from that right. A person with a life interest is known as a life tenant. A life interest ends when the life tenant dies. An interest in possession trust is the most common example of a life interest t...
Found on
http://en.wikipedia.org/wiki/Life_interest
The right to receive the income from, or to enjoy the occupation of, property for the lifetime of the life tenant. In Scotland, it is called a liferent. It will usually arise under the terms of a trust deed or Will but may arise by operation of law. When the life tenant dies, the property does not pass with his estate but goes to the beneficiaries ...
Found on
http://www.encyclo.co.uk/local/20912
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