life rent

A life interest (or life rent in Scotland) is some form of right, usually under a trust, which lasts only for the lifetime of the person benefiting from that right.

You know, Lady Maud Weisernspeitzer aged 103, fourth cousin thrice removed, who lives rent free, at our expense, in a flat at Windsor Castle.

"Wellwood" passed to her daughter Annie, and then in 1934, to Annie's two surviving brothers, J Graham and Robert Paterson, who bequeathed it to Irvine Burns Club in 1955, subject to a life rent in favour of their housekeeper Miss McLean.

If he did not inherit, failing then to Malcolm, second son of the granter, whom failing Patrick, third son, reserving always his own life rent and a life rent on half of the said lands to Ursula Tulloch, his spouse.