Final answer:
The property of a life estate without a named remainderman reverts to the grantor or the grantor's heirs, as directed by state intestacy laws when a person dies intestate.
Step-by-step explanation:
When a life estate owner dies without naming a third party as the remainderman, the property reverts to the grantor or the grantor's heirs. This process of reversion aligns with the estate planning principle that upon death without clear instructions (intestate), the state's intestacy laws will determine the distribution of assets. In the absence of a will or named remainder beneficiary, the court supervises the transfer of the decedent's assets in accordance with these laws.