What type of estate is referred to when someone other than the owner receives the ownership in a life estate?

The term "remainder estate" refers to the ownership interest that is transferred to another party upon the termination of a life estate. In a life estate, the person holding that estate, known as the life tenant, has the right to use and occupy the property for their lifetime. Once the life tenant passes away or the estate is otherwise terminated, the interest in the property does not revert back to the original owner but rather transfers to a specified third party, known as the remainderman.

This transfer of ownership is predefined at the creation of the life estate, ensuring that the remainderman receives full ownership of the property without the need for further action or legal processes once the life tenant is no longer able to occupy the estate.

Other options do not correctly describe the situation. A leasehold estate pertains to a tenant's temporary right to occupy property, a life estate refers specifically to the ownership held by the life tenant, and joint tenancy involves ownership of property by two or more people with rights of survivorship. In the context of the question, the correct answer reflects the key feature of how property interest shifts after a life estate is terminated.