Question

Owner A gives a life estate to a house he owns to his sister for the life of their mother. Upon the mother's death, possession of the house will return to the owner, unless he has died, in which case possession will go to his children, to whom he is leaving the house in his will. Identify the interests in this situation.

Answer 1

In this situation, the interests involved are Owner A's life estate, the sister's life estate, Owner A's reversion, and Owner A's children's remainder.

Step-by-step explanation:

In this situation, there are several interests involved: Owner A has a life estate interest in the house, which means he has the right to possess and use the property for the duration of his life. The sister has a life estate interest in the house for the duration of their mother's life.

Upon the mother's death, Owner A has a future interest in the house called a reversion, which means the possession of the house will return to him.

If Owner A has died before the mother, his children have a future interest in the house called a remainder, which means possession will go to them according to the terms of his will.