08:35 May 14, 2012 |
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Romanian to English translations [PRO] Law/Patents - Law: Patents, Trademarks, Copyright / contract de vanzare-cumparare a unui apartament | |||||||
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4 | life estate q tenant for life |
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life tenant rights |
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Discussion entries: 2 | |
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life estate q tenant for life Explanation: vezi linkul Reference: http://tinyurl.com/cmymula |
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23 mins |
Reference: life tenant rights Reference information: http://homeguides.sfgate.com/life-tenant-rights-8078.html "A life tenant is an individual who owns a life estate in a piece of property. On a day-to-day basis, a life tenant is no different from any other homeowner, but the ownership has already been transferred to someone else, known in law as the "remainderman." At the death of the life tenant, the remainderman takes possession." http://usufrutto.it/altro/bare-ownership-sales-in-the-world/... "It is the right to use property in which another person (bare ownership) is the owner and to receive income (rents, dividends, …). This right is always temporary, the bare owner who intended to hold the freehold of the property at the termination of the usufruct. The usufruct is usually life: it lasts the lifetime of the usufructuary and goes to his death. Such is the case, in particular, the usufruct of the surviving spouse. The usufruct may also be provided for a fixed period (5 years, 10 years, etc..) Under two conditions: 1) If the life tenant dies before the arrival of the scheduled term, the usufruct is extinguished and the bare owner immediately becomes full owner of the property. 2) If a corporation or an association that is usufructuary, the usufruct can not be longer than 30 years." |
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