Which of the following is an example of a life estate?

A life estate is a type of property ownership where an individual has the right to use and live on the property for the duration of their life. Upon their death, the property does not pass to their heirs but instead reverts back to the original grantor or another designated individual. This arrangement creates a temporary interest in the property that lasts only for the life of the beneficiary.

The correct answer illustrates this concept well by describing a property that is given to someone for their lifetime; once that person passes away, ownership reverts to the grantor. This aligns perfectly with the definition of a life estate, which is distinct from other forms of property ownership, such as joint ownership or complete ownership of property without conditions.

In comparison, properties that are jointly owned, fully owned by an individual, or under a rental agreement do not involve this particular arrangement whereby a person’s right to the property is tied to their lifespan. Thus, these other options do not fit the definition of a life estate.