A life estate pur autre vie is a type of life estate in which the duration of the estate is based on the life of a person other than the grantee (the person holding the estate).
This arrangement allows the grantee to possess and use the property for the duration of another person's life.
Upon the death of that person, the property reverts to the original grantor or passes to another designated party, according to the terms set forth in the creation of the life estate.
The term "pur autre vie" is French for "for another's life." This estate planning tool is used for various purposes, including providing for someone without giving them a permanent property right or managing the distribution of assets upon the death of the life tenant.
Unlike a standard life estate, which lasts for the lifetime of the person holding the estate, a pur autre vie estate is tied to the lifespan of a third party, making it a flexible tool for estate planning and property management.
Life estates pur autre vie can be particularly useful in situations where the grantee needs the use of the property during another individual's lifetime, such as taking care of a dependent or family member.
This type of estate also has implications for Medicaid planning and can affect the grantee's eligibility for government benefits, as the property does not count as an asset of the grantee under certain conditions.
A common misconception is that a life estate pur autre vie gives the holder ownership of the property.
In reality, the holder has the right to use and benefit from the property but does not own it outright.
Ownership rights are limited to the lifetime of the person specified, and the holder cannot sell or bequeath the property as part of their estate, except under the terms specified when the life estate was established.
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