Which type of estate allows property usage until death, after which remainder interests transfer to another?

A life estate is a type of property ownership that grants an individual the right to use and occupy a property for the duration of their life. Once the individual who holds the life estate passes away, the rights to the property do not revert to the original owner but instead transfer to another party, known as the remainderman. This structure is designed to provide the holder of the life estate with full usage and enjoyment of the property for their lifetime, while ensuring that ownership transitions to someone else after their passing, maintaining a clear chain of future interests.

This concept distinguishes a life estate from other types of property interests. For example, in a fee simple estate, the owner has complete ownership of the property indefinitely, which can be inherited or sold. Joint tenancy involves shared ownership with rights of survivorship, meaning when one owner dies, their share automatically passes to the surviving tenants. A leasehold estate, on the other hand, is a temporary right to occupy a property generally defined by a lease agreement, which is also distinct from the lifelong and transferring nature of a life estate.