life interest

noun
interest on property that is payable during the owner's lifetime but cannot be passed on to another or others after his or her death.
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World English Dictionary
life interest
 
n
interest (esp from property) that is payable to a person during his life but ceases with his death

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Property that was transferred with the decedent retaining a life interest is taxable.
The lack of findings related to the central life interest variable can be explained by a poor measuring instrument.
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