Who is referred to as the party that created a life estate?

The party that creates a life estate is known as the grantor. In real estate, the grantor is the individual or entity that transfers the property interest to another person, establishing the life estate. This process involves the grantor conveying specific rights associated with the property—specifically granting the life tenant the right to use and enjoy the property for their lifetime.

Once the grantor has established the life estate, the life tenant becomes the person who possesses the right to occupy and utilize the property during their lifetime. However, it is the grantor's actions that initiate the life estate by outlining the terms and conditions under which the life tenant can hold the property.

The reversioner is a party that has a future interest in the property once the life tenant passes away; this individual or entity receives the property back or benefits from it once the life estate ends. The beneficiary typically refers to someone who benefits from a trust or an estate, but in the context of life estates, it is the grantor who plays a pivotal role in creating the estate in the first place.