Aunt Fran sells property with a conventional life estate reserved. Who is the life tenant?

In the context of real estate, when Aunt Fran sells property with a conventional life estate reserved, she retains the right to occupy and use the property during her lifetime, making her the life tenant. The life tenant has the ability to use the property for as long as she is alive. Once Aunt Fran passes away, the property then transfers to the holder of the remainder interest, which in this case is likely the church.

This arrangement effectively means that while Aunt Fran is alive, she has all the rights associated with ownership of the property, including the right to live in it or even rent it out. Once her life ends, the church automatically gains full ownership of the property without needing to go through probate or another transfer process.

While other options discuss different scenarios, they do not accurately reflect the nature of the life estate and the relationship between Aunt Fran and the church in this particular situation. This understanding is crucial in distinguishing the roles and rights associated with life estates and remainder interests in property law.