is a life estate in a residential property considered as ownership of the real property

I think the term "ownership" here is confusing.  Think about it from the standpoint of having an "interest" or "stake" in the property.  For example, a tenant has a leasehold "interest" in the real property.  Tenant has right to occupy and use the property according to the lease agreement.  A life "tenant" in a property has a certain "interest" in the propety.  Typically that means right to use or occupy property for a term measured by the life of the tenant.  The specifics of the tenancy are usually detailed in the deed but not always.  Do they "own" the property?  Not in the traditional sense of the word but the "owner's" rights to the property are subject to the life tenant's rights.