Tennessee Code 66-1-103 – Rule in Shelley’s case abolished
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Terms Used In Tennessee Code 66-1-103
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Where a remainder is limited to the heirs or to the heirs of the body of a person, to whom a life estate in the same premises is given, the persons who, on the termination of the life estate, are heirs or heirs of body of such tenant, shall take as purchasers, by virtue of the remainder so limited to them.