liferent
{{Short description|Property right in Scots law}}
{{redirect|Fiar|the Italian avionics firm|FIAR}}
{{Use dmy dates|date=April 2022}}
Liferent, or life-rent, in Scots law is the right to receive for life the benefits of a property or other asset without the right to dispose of the property or the asset.
{{cite web
|title=Scottish Language Dictionaries
|url=https://dsl.ac.uk/entry/snd/liferent
|accessdate=November 21, 2020
}}
{{cite web
| title = The Records of the Parliaments of Scotland to 1707
| publisher = K.M. Brown et al. eds (St Andrews, 2007), 1605/6/39
| url = http://www.rps.ac.uk/
|accessdate=February 15, 2008
{{cite book
| last = Shumaker
| first = Walter A.
|author2=George Foster Longsdorf
| title = The Cyclopedic Law Dictionary
| url = https://archive.org/details/cyclopediclawdi00longgoog
| edition = Second Edition by James C. Cahill
| year = 1922
| publisher = Callaghan and Company
| location = Chicago
}} Where the property is held in fee simple, the owner is termed the fiar.{{cite web |title=Definition of fiar |url=https://www.merriam-webster.com/dictionary/fiar |publisher=Merriam Webster |access-date=4 March 2021 |language=en}} (This is unrelated to Fiars Prices, another term in Scots law.) For some acts relating to the property, the consent of both liferenter and fiar may be required by law.
Examples
- If a man held a liferent on arable land with a house, he could, for the rest of his life, live in the house and cultivate the land, keeping the income for himself. He could not transfer the land or house to another person.
- A liferent might be set by law (as when someone died, it would apply to the surviving spouse); or it might be set as a private arrangement between individuals.