Liferent (Scots law)
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Liferent or Life-rent in Scots law is the right to receive for life the benefits of a property or other asset, without the right to dispose of the property or asset. The definition was constructed from the sources.[1][2][3][4][5]
Examples
- If a man held a liferent on arable land with a house, he could, for the rest of his life, live in the house and cultivate the land, keeping the income for himself. He could not transfer the land or house to another person.
- A liferent might be set by law (as when someone died, it would apply to the surviving spouse); or it might be set as a private arrangement between individuals.
References
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