Interest in Possession Trust: Trust Law Definition

A trust where a beneficiary (the life tenant) has an immediate right to receive income as it arises, while the capital is preserved for other beneficiaries (remaindermen). Common example: a widow receives income from the family home for life, then children inherit. The life tenant cannot touch the capital - only the income it produces.

This definition is part of the Equity Steward Trust Law Glossary — a plain English reference for UK families and trustees.