Definition of "life interest"
noun
plural life interests
(law) A right, typically in the form of regular income, that lasts for the lifetime of the person benefiting from that right.
Quotations
Under this Will you will perceive that you take a life-interest in about half of the late Mr. Vincey's property, now invested in Consols, subject to your acceptance of the guardianship of his only son, Leo Vincey, at present an infant, aged five.
1886 October – 1887 January, H[enry] Rider Haggard, She: A History of Adventure, London: Longmans, Green, and Co., published 1887