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All that is required to transfer title is that an affidavit of death of life tenant or surrender of life estate, as relevant, be recorded with the county recorders office. During the period of the life estate, the life tenant has all the obligations of ownership, including paying the real property taxes and insurance.
Electronic Title Lists | U.S. Copyright Office. Law Policy. Registration. Recordation. Recordation of Transfers and Other Documents.
The life estate interest gives the holder the right to all the benefits of the property during the lifetime for which it is granted. Upon the death of the measuring life, the property automatically vests in a remainderman or the future interest holder.
On the Life Tenants death, subject to any exemptions or reliefs which then apply, IHT will be payable on the combined value of the trust assets and the Life Tenants own estate. The trustees will be responsible for paying the proportion of the IHT payable in relation to the trust assets.
A remainderman is considered the beneficiary of a life estate and stands to inherit any remaining property after the life tenants death.

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After the death of the life tenant (or earlier termination of the trust), the remaining capital of the trust fund can then be passed on to other individuals, known as the remaindermen, or a separate trust, as set out in the will.
A lifetime tenancy means that a person holding one - a life tenant - has the right to live in their property indefinitely until death but may not normally sell or pass on any interest in the property beyond the time of their death.
The life tenant cannot sell, mortgage or in any way transfer or encumber the property. If either party wants to sell the property, both the life tenant and remainderman must agree. The life tenant usually receives a smaller portion based on the value of the life estate, calculated using actuarial tables.
A person who has a life interest is called a life tenant, or sometimes a tenant for life. A life tenant is entitled to the income of a fund, but not capital.
If a life tenant or other person with a qualifying interest in possession dies and the property continues to be settled property or a beneficiary becomes absolutely entitled to the property, the trustees are deemed to have disposed of it and reacquired it at market value.

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