What type of arrangement exists when Owner A allows B to use the property as long as C is alive?

The correct understanding of this situation revolves around the concept of a life estate. In real estate, a life estate is a type of ownership interest that lasts for the duration of a specified person's life—in this case, the life of Owner C. This means that Owner A has granted the right for B to use and enjoy the property as long as C is alive. Once C passes away, the rights to the property typically revert back to Owner A or could go to another designated party, depending on the specifics of the estate arrangement.

A lease, which involves the rental of property for a specified term and may not be contingent on a person's life, does not fit the scenario described. A license allows someone to use the property but does not give them any ownership rights, nor does it typically involve a life condition. An easement grants the right to use a portion of another's property for a specific purpose, which again, is not dependent upon the life of an individual.

Understanding the nature of a life estate clarifies how ownership and usage rights are specifically tailored around the life of a person, making this arrangement distinct from leases, licenses, or easements.