Transcription of GREATER MILWAUKEE AREA OFFICES IN …
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GREATER MILWAUKEE AREA OFFICES IN …
1 Attorney Timothy P. Crawford, CPA, CELA*, CAP** wanted to share this information with you. life ESTATE INTERESTS GREATER MILWAUKEE area OFFICES IN BROOKFIELD, GLENDALE, MILWAUKEE , OAK CREEK & RACINE Your Asset Protection Law Firm 840 Lake Avenue, Suite 200 Racine, WI 53403 (262) 634-6659 E-mail: Website: life estate - an interest whereby the person possessing the life estate interest may use, reside in, and benefit from a piece of real estate such as receiving rent from the property (whether a residence, commercial property, or vacant land) for a specific person s lifetime (usually the same person s lifetime) life estate pur autre vie - where the life tenant s interest is not based on his/her life (but based on the lifetime of another person) life tenant - the person who has the life estate interest Remainderman - the person(s) (or charities) who will be 100% owner(s) of the property after the life estate interest ends (normally when the life tenant dies) 1.
2 v. A ex-wife (or ex-husband) might be “given” a life estate interest in the . family home (or a vacation home) in a divorce settlement agreement.
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