This video will explain what a life estate is. A life estate is a property, usually a residence, that an individual owns and may use for the duration of their lifetime. Under the life estate, this person, called the life tenant, shares ownership of the property with one or more other people, who will automatically receive the title to the property following their death. In the U.S., life estates are typically created by homeowners to ensure that the next generation gets the family home while avoiding probate, the legal process of proving a will. To learn more about how life estate deeds work, watch this video.