Life interest definition

Life interest means the right, upon payment of an entrance fee, to receive continuing care for life.
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Life interest means a life lease, life membership, life estate, or other similar agreement between a purchaser and a facility by which the purchaser pays a fee for the right to occupy a space in the facility for life.
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Life interest means a type of real property ownership that gives the owner the use of the property or the right to income generated by a property during the lifetime of the owner, or both.
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Examples of Life interest in a sentence

  • UNIT-III : Gift : Meaning and requisites of gift (Hiba); Gift of Musha, Conditional and future gift, Life estate, Life interest, Hiba-bil-ewaz, Hiba-bil-Shartul-ewaz, Will (Vasiyat) : Competence of testator and legatee valid subjects of will : Testamentary limitations, Formalities of a will and abatement of legatee.

  • Instituto Nacional De Estadística Y Geografía, 2010, XIII Censo general de población y vivienda.

  • The LA cannot make the trustees pay over the income.1 Trustee Act 1925, s 31(1)(i) Life interest or life rent P1.148 If someone has an interest in a trust for the duration of their life it is called, in• England and Wales, a life interest• Scotland, a life rent P1.149 A person may have a life interest or life rent in the• capital• real or heritable property such as a house or trust P1.150 Rights under a life interest or life rent end with the death of the person who has the life interest.

  • Life estate, Life interest, I-Iiba-bil-awaz, Hiba-bil-shart-ulawaj.

  • Life estate, Life interest, I-Hiba-bil-awaz, Hiba-bil-shart-ulawaj.6. Will (Vasiyat): Competancy of testator and legatee, valid subject of will Testamentary limitations, formalities of a will and abatement of legacy.

  • The LA cannot make the trustees pay over the income.1 Trustee Act 1925, s 31(1)(i) W1.148-W1.156‌ Life interest or life rent W1.148 If someone has an interest in a trust for the duration of their life it is called, in• England and Wales, a life interest• Scotland, a life rent W1.149 A person may have a life interest or life rent in the• capital• real or heritable property such as a house or trust W1.150 Rights under a life interest or life rent end with the death of the person who has the life interest.

  • In addition, cl 8 of the trust order states: 8 Life interest The trustees shall recognise that ERRKI SADE shall be entitled to a life interest in this Whanau Trust.

  • The owner has the total bundle of legal rights related to the intangible property.2. Life interest or estate.

  • Life interest legacy income is recognised at the date of death of the life interest provided the receipt and value criteria are met.Trading activities Income from trading activities includes income earned from activities to raise funds for the charity.

  • C: Life interest with power to encroach found for the wife, interest goes to daughters.Christensen v Martini Estate, 1999 ABCAF: ∆, widow of the testator, was given duplex "for her use" with the caveat that it would be given to the π "when she no longer needs it." Trial judge found that that the testator's intent was to confer a limited estate upon ∆ but it had been "frustrated by virtue of the uncertainty of the nature and extent" of the interest, thereby making it repugnant to the gift to the π.


More Definitions of Life interest

Life interest means an interest conveyed to Land and/or property for residential purposes for the duration of another’s life or one’s own life.
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Life interest. – this means that someone has an interest in an asset for a lifetime. When creating a life interest, one must also state what happens when the life interest dies = “the remainder” and goes to the “remainderperson”.
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Related to Life interest

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Private interest means an interest held by an individual that is:

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Class A Percentage Interest means, with respect to a Class A Member as of a given date, that percentage obtained by dividing the total number of Class A Units owned by such Member by the total number of Class A Units issued and outstanding.

  • Vested Interest means a Participant’s nonforfeitable interest in his or her Account, determined in accordance with Article V.

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Note Interest for any Class of Notes and Payment Date means interest for the related Interest Period at the applicable Note Rate on the related Note Principal Balance as of the first day of the Interest Period (after giving effect to the distributions made on the first day of the Interest Period).

  • Base Interest means the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture, without giving effect to the provisions of this Agreement.

  • Class B Interests As set forth in the Trust Agreement.

  • Class C Monthly Interest is defined in Section 4.1(c).

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.