Which of the following is NOT true regarding estates for life?

Estates for life, also known as life estates, are legal arrangements that give an individual rights to use and occupy a property during their lifetime. Understanding this concept is essential for anyone studying real estate law and property rights.

The assertion that life estates can be inherited is not true. When a person who holds a life estate passes away, the interest in the property does not go to the holder's heirs. Instead, the property usually reverts to the original grantor or passes on to another designated individual, commonly referred to as the remainderman. This characteristic ensures that the life estate exists solely for the duration of the life of the holder, which is a key aspect of its legal definition.

On the other hand, life estates do indeed terminate upon the death of the holder, grant possession of a property for the duration of a lifetime, and can be sold. However, while the holder can sell their interest, the rights of the buyer will also end upon the death of the original holder. This limited duration of interest is crucial in understanding the nature and limitations of life estates.