Property Title IssuesLife Estates and Remainder InterestsA life estate is the right to use property or receive its income until death. A remainder interest is the right to receive all that remains when one (or more) life estate ends.. Thus, if a donor gives property to a recipient to use during the recipient’s life, and at the recipient’s death, the property goes to a second recipient, the first recipient has a life estate and the second recipient has a remainder interest. An owner of property can give or sell a remainder interest while retaining a life estate. Upon the death of the owner of the life estate, generally the remainder interest holder will receive the property without the need for probate. The property, however, may be includable in the decedent's gross estate.
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