-
Who owns the property if someone lives there under Lifetime Tenancy?
Depends what you mean by 'owns'. The lessee under the life tenancy has the right to occupy the property during the term of the lease, the lessor (the reversioner) owns the future right to occupy the property once the lease ends (the reversion expectant upon the lease).
It's like asking who owns a leasehold flat subject to a mortgage. Is it the lessor, the lessee, or the lessee's mortgagee? Technically, they all do - they all have interests in the property. As, potentially, does the Crown if the land is in the UK. But only one of them is entitled to possession of the property at any one time.
Brommers-
Owns as in who is in possession of the title deed and freehold. Whom, as per the lifetime tenancy agreement, is prevented from exercising their right to occupy until property is vacant.
Anyway person I knew who looked into decided against going that path because they were too young to get a sizeable wedge. They just sold up and downsized.
Kurai
Who owns the property if someone lives there under Lifetime Tenancy?