Life interest

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The Law of Wills, Trusts and Inheritance
Part of the common law series
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Joint wills and mutual wills  · Will contract
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Attestation clause  · Residuary clause
Incorporation by reference
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Testamentary capacity  · Undue influence
Insane delusion  · Fraud
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Elective share  · Pretermitted heir
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The Law of Trusts
Generic Terms:
Express trust  · Constructive trust
Resulting trust
Common Types of Trust:
Bare trust · Discretionary trust
Accumulation and Maintenance trust
Interest in Possession trust
Charitable trust
Purpose trust
Other Specific Types of Trust:
Protective trust  · Spendthrift trust
Life insurance trust  · Remainder trust
Life interest trust  · Reversionary interest trust
Honorary trust  · Asset-protection trust
Special needs trust: (general)/(U.S.)
Doctrines governing trusts
Pour-over will  · Cy pres doctrine
Other related topics
Living Wills (advance directives)
Inheritance
Intestacy  · Testator  · Probate
Power of appointment
Simultaneous death  · Slayer rule
Disclaimer of interest
Other areas of the Common Law
Contract law  · Tort law  · Property law
Criminal law  · Evidence

A life interest (or life rent in Scotland) is some form of right under a trust which lasts only for the lifetime of the person benefitting 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 trust. In a typical interest in possession trust, the life tenant receives all the income from the trust for the rest of his or her life. 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.