The right to use and enjoy property for the duration of one's life. Typically this refers to a grant of real property where the person may live and enjoy the property during their lifetime but has no rights to sell or convey the property after death. Frequently used to keep property within a family. … [Read more...] about LIFE ESTATE
L
LIFE-SUSTAINING TREATMENT
Medical procedures that will only prolong one's life temporarily and temporarily suspend death or prolong a comatose state. … [Read more...] about LIFE-SUSTAINING TREATMENT
LIFE EXPECTANCY
The amount of time that a person is expected to live based upon an evaluation of their health, lifestyle and other relevant factors. … [Read more...] about LIFE EXPECTANCY
LIFO
Last In, First Out … [Read more...] about LIFO
LIFE IN BEING
A person who is alive at the time an instrument was created. Also see Rule Against Perpetuities. … [Read more...] about LIFE IN BEING