What type of estate allows the holder to use the property during their lifetime, with interest reverting to another party afterwards?

The type of estate that allows the holder to use the property during their lifetime, with interest reverting to another party afterwards, is a Life Estate Pur Autre Vie. This estate grants the individual the right to occupy and use the property for the duration of their life or the life of another designated individual. After that, the property interest will revert to a third party, known as the remainderman. This legal structure creates a specific arrangement in which the rights to the property are tied to the life of the holder or another specified life, establishing clarity in ownership and usage rights during that period.

Understanding this concept is crucial as it highlights important distinctions in property rights and the temporary nature of a life estate compared to other types of ownership, such as Fee Simple Absolute, where the owner has complete and indefinite rights to the property.