Interest (in property) that is payable during a person's lifetime, but which cannot be passed on to another at death.
A property interest granted for the duration of a person’s life. See life estate.
Life-interest Sentence Examples
The ministers with all but absolute unanimity decided to commute their life-interest and form therewith a great fund for the support of the Church.
A man might make his wife a settlement by deed of gift, which gave her a life interest in part of his property, and he might reserve to her the right to bequeath it to a favourite child, but she could in no case leave it to her family.
All other daughters had only a life interest in their dowry, which reverted to their family, if childless, or went to their children if they had any.
But Philip Howard, the son and heir, succeeded to the ancient earldom of Arundel in 1580, on the death of his maternal grandfather, while the Lord Lumley, his uncle by marriage, surrendered to him his life interest in the castle and honour of Arundel.
In 1802 he entered parliament through the duke of Norfolk's nomination as member for Thetford, and married a widow with six children, Mrs Ord, who had a life interest in a comfortable income.