What does the term "life tenant" refer to in a conventional life estate?

The term "life tenant" in a conventional life estate refers specifically to the individual who has ownership of the property for the duration of their life. This concept is foundational in property law, particularly in estate planning, as it establishes a legal interest in the property that exists only during the life of the tenant.

A life tenant can possess, use, and benefit from the property but does not hold a fee simple interest that would allow them to own the property indefinitely or pass it on to heirs after their death. The rights and responsibilities of the life tenant often include maintaining the property and paying property taxes, ensuring that the property remains in good condition for the future interest holders—those who will own the property after the life tenant's death.

In contrast to the other options, the life tenant is not a temporary holder of the property, nor are they simply managing it for others or endowed with the authority to sell it. A life tenant cannot sell the property outright, as their interest in it terminates upon their death, at which point ownership passes to the remainderman or the next designated owner. Understanding this distinction is crucial in the context of property rights and estate management.