Right of residence vs a Life Interest

[Twoflutes]

How does the law distinguish between these two types of beneficiary to a property ?

My understanding is that the right of residence allows for a person to live in a property and no more. Can this right be given up either voluntary or involuntary, for example if the person went into care an no longer resided in the property??

 

[Vanilla]

They are two different things.

A life interest is an interest in possession trust for a lifetime.

A right of residence can either be an exclusive right or not. An exclusive right of residence allows one to exclude anyone else from the house.

They have different values for tax treatment.

Yes one can give up a right of residence or a life interest, giving these up also has tax implications. But if you have a life interest or a right of residence, and you go into care and you do not voluntarily give up that right, whether because you don't want to, or you lack capacity to, then you still have it. It doesnt die through lack of use.

 

[Twoflutes]

In respect to non exclusivity, would that be set out in the trust or the will?
For example, "I leave my house to John, to hold in trust for Mary, for hers to use and to also benefit Jack and Jill"