livränta

Livränta is a Swedish term that translates to "life annuity" or "life interest" in English. It refers to a right to receive income from an asset, typically property, for the duration of a person's life. This right is often granted in a will or through a legal agreement. The person receiving the livränta is known as the beneficiary, and they are entitled to the income generated by the asset, such as rent from a property, but they do not own the asset itself.

Upon the death of the beneficiary, the livränta ceases to exist, and the underlying asset typically passes to a designated heir or remains with the original owner's estate. This arrangement is often used to provide financial security for a surviving spouse or other dependents without giving them outright ownership of the asset. It can also be used to ensure that an asset remains within a family for future generations while still providing an income stream for a particular individual during their lifetime. The specific terms and conditions of a livränta are usually detailed in the legal document that establishes it.