What happens to the property in a Life Estate when the measuring life dies?

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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, the ownership of the property is held by the life tenant for the duration of their life. This right to use and enjoy the property ends with the death of the measuring life, which is typically the life tenant themselves.

When the measuring life dies, the property does not remain with the life tenant nor does it automatically get sold or become community property. Instead, the property reverts to the original owner, known as the grantor, or to their heirs if specified. This is a fundamental aspect of how life estates are structured in property law. The reversionary interest ensures that the grantor retains some control over the property, allowing it to transfer back to them or their designated heirs after the life estate terminates. This concept of reversion is crucial for understanding the lifecycle of property rights in estates.