How may a life estate be measured?

A life estate is a form of property ownership that lasts for the duration of an individual's life, referred to as the "life tenant." The duration of a life estate can be measured by the life of a third party, which is a common arrangement in estate planning. This means that the property is held by an individual for the duration of someone else's life. The life tenant has the right to use and enjoy the property during this time, but upon the death of the person whose life measures the estate, the property will typically revert to another party (the remainderman).

This option reflects the principle that a life estate does not have to correspond exclusively to the owner's lifespan; it can indeed be tied to the life of another individual. By contrast, measuring a life estate strictly by the owner's life or by municipal regulations will not encompass the broader scenarios often utilized in estate planning. Predetermined time limits also do not apply, as they do not reflect the defining characteristic of a life estate, which is determined by a person's life span, not a set duration.