A form of encumbrance which usually makes specific property security for the payment of a debt or
discharge of an obligation. Example ? judgments, taxes, mortgages, deeds of trust, etc.
LIFE ESTATE ? An estate or interest in real property, which is held for the duration of the life of some
certain person. It may be limited by the life of the person holding it or by the life of some other person.
« Back to Glossary Index