Life tenancy

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In a Settled Land Act settlement trust, the tenant for life holds the legal and equitable titles to a freehold estate in land. The legal title is held for the benefit of the life tenant himself and his successors. On the death of the life tenant, the property is often 'resettled'; that is, the heir becomes the new life tenant, and holds for his benefit and that of his heirs. The life tenant is not, technically, a trustee - the settlement trust will have independent trustees with supervisory duties. Settlement trusts are cumbersome and archaic, and can no longer be created.

Land and Property Law