Conveyancing

Is a life interest in a home real or personal property?

Published in: February 2010

"My father left his wife, my stepmother, a life interest in his home, with all rights reverting to me on her death. Is that real or personal property, and does it make any real difference anyway?"

Answering the last part first, no, it doesn't really make any difference.

Your stepmother is what is known as a life tenant, and you are a remainder man. This type of arrangement was common in the 19th Century, to make sure that helpless or spendthrift widows could not waste the family inheritance! The children would eventually get the property, regardless of the wiles of any penniless would-be seducer of the hapless widow.

In fact, your interest as a remainderman is in fact real property.