What is the term used to describe an interest in property for the duration of another's life?

The term that describes an interest in property for the duration of another's life is known as "pur autre vie." This legal concept pertains to a life interest that is granted not for the life of the grantee (the person who receives the interest) but for the life of another individual.

For example, if a property owner conveys a life estate to someone with the stipulation that it lasts for the life of a third party, that arrangement is referred to as "pur autre vie." This can be particularly useful in estate planning, allowing property to remain in the family or be used by another person while still retaining the property owner's beneficial interest until the individual whose life measures the estate passes away.

In contrast, a life estate specifically refers to an interest that lasts for the life of the grantee. A freehold estate is a broader category that includes various forms of ownership without regard to duration, and a leasehold estate pertains to a temporary right to occupy property as per the terms of a lease agreement. Thus, understanding the specific contexts and definitions of these terms highlights why "pur autre vie" is the precise term that accurately describes the scenario in question.