Remainder (life estate) – Singapore property for sale/ rent
Although the ownership of a life estate is of limited duration because it ends at the death of the person, the owner has the right to enjoy the benefits of ownership of the property, including income derived from rent or other uses of the property, during his or her possession. Because a life estate ceases to exist at the death of the person’s life, the interest in the property will be reverted to the person named in the life estate agreement. A life estate may be used as part of an estate planning. Singapore property for sale/ rent.
For example, Paul transferred his property to his son, John. John then, in a life estate agreement, grants the property to his father, Paul, a life estate with the remainder in fee simple going back to John. John is said to have a future interest in the property and there will be a reversion of interest in the property to John upon the death of Paul.
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