A life estate is an interest in real estate lasting:

A life estate is a specific type of property interest that is tied to the duration of a person's life, often referred to as the "controlling life." This means that the individual, who is the beneficiary of the life estate, has the right to use, occupy, and benefit from the property for as long as they are alive. Once this individual passes away, the life estate automatically terminates, and the property will pass to another designated party, often referred to as the remainderman.

This concept distinguishes a life estate from other forms of ownership, such as a fixed-term lease or ownership that lasts indefinitely until a certain condition is met. It is essential to understand that the life estate is inherently tied to the personal life of the designated individual rather than any predetermined time period or external conditions. The other options presented do not accurately describe the nature of a life estate, as they relate to fixed durations or conditions that do not align with the fundamental principle of a life estate being dependent on a person's lifetime.