Oregon Statutes 112.345 – Devise of life estate
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A devise of property to any person for the term of the life of the person, and after the death of the person to the heirs of the person, vests an estate or interest for life only in the devisee and remainder in the heirs. [1969 c.591 § 48; 2015 c.387 § 17]
Terms Used In Oregon Statutes 112.345
- Devise: To gift property by will.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- 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.