If a life estate is granted, what determines its duration?

The duration of a life estate is fundamentally tied to the life of the tenant, which is why the answer is correct. A life estate is a type of property ownership that lasts for the duration of an individual’s life, known as the life tenant. Once the life tenant passes away, the estate automatically reverts to the original grantor or passes to a designated remainder recipient as outlined in the life estate deed.

This arrangement provides the life tenant with the right to use and benefit from the property during their lifetime, but once they are no longer living, the rights to the property change according to the stipulations set forth in the deed. This unique characteristic of life estates differentiates them from other forms of property ownership, which might not have a duration that is explicitly linked to a person’s life.

While the grantor's decisions and the regulatory framework can play roles in establishing the terms of the life estate and its subsequent transfer, it is ultimately the life of the tenant that dictates how long the property rights endure. The property's market value might fluctuate, but it does not influence the duration of the life estate, which is specifically limited to the tenant’s lifespan.