A. In general to create a legal life estate in real estate property, the property must be conveyed by a deed which carves out the life estate for the grantor and creates a "remainder interest" by which the "remaindermen" receive full ownership immediately upon the death of the life tenant. In New York however, there is no remaindermen, meaning that ownership interest is created immediately in the grantee(s) simultaneously with the life tenant's interest for the life of the tenant.