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retained life estate
A term to know.
A gift of property on the condition that the donor is permitted to retain the use of the property for life. Within the context of charitable giving, an estate of this nature can only receive a charitable income and gift tax deduction if the property is a residence or a farm.
Synonyms:
RLE, RLEs, retained life estates
Synonyms list
(a comma-separated list)
RLE, RLEs, retained life estates