If the lease is legitimate (if it is an actual life estate), then no, this person cannot be evicted. This would have to be disclosed in the sale. If the life estate is not properly recorded, etc., it may not be enforceable and the new owner would be able to evict the life tenant.
If this is not disclosed, it may be reason enough to overturn the transaction, or sue the title company that did not catch it.
The better question is who would purchase such a property?
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