equitable life estate

equitable life estate. An interest in real or personal property that lasts for the life of the holder of the estate and that is equitable as opposed to legal in its creation. • An example is a life estate held by a trust beneficiary. [Cases: Life Estates 21. C.J.S. Estates §§ 138–147, 150.]

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词条贡献者

双语律师郭敏，国际知名商学院金融专业，擅长翻译各类与金融衍生品与结构化产品相关的法律文件。