In a Life Estate Pur Autrie Vie, whose life determines the duration of the estate?

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Prepare for the UCF BUL3130 Legal and Ethical Environment of Business Exam 2. Dive into legal and ethical concepts with flashcards, multiple-choice questions, and detailed explanations. Get exam-ready with comprehensive study resources!

In a Life Estate Pur Autrie Vie, the duration of the estate is determined by the life of a third party. This type of life estate is created when one individual holds an estate based on the life of someone other than themselves or the grantor. Essentially, it means that the rights to the property exist as long as a specified individual (the third party) is alive. Once that individual's life ends, the estate automatically terminates, and the property passes back to the grantor or to a specified remainderman.

This concept is critical in estate planning and property law, as it defines the rights and responsibilities of the life tenant and outlines how the property can be utilized during the life of the designated person. Understanding this principle helps clarify the distinction between different types of life estates and their implications for property ownership and transfer.