The Benefits Estate - Netflix

Posted on Fri 28 June 2019 in netflix

The show takes a look at life living on Darndale, an infamous housing estate in Dublin.

Type: Documentary

Languages: English

Status: Ended

Runtime: 60 minutes

Premier: 2015-03-10

The Benefits Estate - Life estate - Netflix

In common law and statutory law, a life estate is the ownership of land for the duration of a person's life. In legal terms, it is an estate in real property that ends at death when ownership of the property may revert to the original owner, or it may pass to another person. The owner of a life estate is called a “life tenant”. In the combined jurisdiction of England and Wales since 1925 a freehold estate intended to be 'held' as a life interest takes effect only as an interest enjoyed in equity, specifically as an interest in possession trust. The other type of land ownership is leasehold and although most long leases are for a period of between 99 and 999 years 'leases for life' will be interpreted in often unpredictable ways as either as a licence or a lease.

The Benefits Estate - At law and in equity (US) - Netflix

Life estates in real estate are still created today. The life estate is more commonly used in trust instruments, typically in an attempt to minimize the effect of the inheritance tax or other taxes on transfers of wealth. A prospective reduction in tax for the creator ('settlor') often follows if the settlor has parted with all current and future interest. However many tax codes transfer the burden of estate taxes to the holder of the interest in possession (life tenant) and may treat that person or the remaindermen as owning a second/surplus property. Formally where a system is derived from English law, the law divides into common law and equitable law — at their cores the formal title and further overarching rules (especially as to trust interests such as this). The latter cannot usually defeat a claim to title from a bona fide purchaser for value without notice, as such a person has reasonably researched the ownership position based upon the legal title (common law) position. As the owner of a legal interest, in the US, further embedded or legal interests consistent with the form of ownership can be created from life estates. Accordingly, due to their potential versatility and complexity in the U.S., common law seldom recognizes a life estate in personal property (tangible items and livestock other than land including buildings) but such interests are recognized at equity where of adequate form — statutes and regulations impose formalities on the creation of lifetime interests in personalty.

The Benefits Estate - References - Netflix