Which term describes an ownership type that allows a person to use the property during their lifetime, but does not allow it to pass to heirs?

The term that describes an ownership type allowing a person to use the property during their lifetime, but preventing it from passing to heirs, is a life interest. In a life interest arrangement, the individual (known as the life tenant) enjoys the rights to use and benefit from the property for their lifetime. However, upon their death, the ownership does not transfer to their heirs; instead, it typically reverts to another party, often the original grantor or their heirs, depending on the terms of the agreement.

This unique arrangement creates a temporary interest in the property based on the duration of the life tenant's existence, distinguishing it from full ownership types that allow for inheritance or transfer of property rights after death. Other options, such as a willed estate, leasehold, or tenancy in common, do not fit this definition as they encompass different rights and conditions regarding property ownership and inheritance.