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Can person with the lifetime right of occupancy be made to pay taxes or insurance on the property?
Wiki User
∙ 12y ago
and how do I get a copy of this as I've been waiting for one since 2008 when it was drawn up? also, this was supposed to have been made irrevocable and was not.
since that time the person now has been hospitalized a number of times and suffers from dementia for the past three years. the lawyer refuses to give me a copy and states he must ask the person who is no longer of sound mind.
Wiki User
∙ 12y ago
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What is the Definition of a lifetime right of occupancy?
A LIFE ESTATE is an estate held only for a specified person's life. It is a right to use and occupy property that is extinguished when the life estate holder dies.
Who name is a deed in if they have a lifetime dowry?
Person has lifetime dowry to live in home on the property, but property is deeded to someone else. If the person with the lifetime dowry moves out of the home and then moves backs did they relinquish thier lifetime rights?
What is the meaning of builders insurance?
The meaning of builders insurance is property insurance which protects the person against damages to a property, while that property is still under construction. There are many risks when a building is under construction and the builders insurance protects the person from those risks.
What is life estate in Fla?
A life estate is a right in real property based on the life of a person. It allows that person the use of the property for their lifetime.
How long does the family have to remove personal belongings of a family member that had lifetime rights to a property after the person that had lifetime rights deceased?
The timeframe for removing personal belongings after the death of a family member with lifetime rights to a property depends on local laws and any provisions in the person's will or estate planning documents. Typically, the family may need to remove belongings promptly after death to facilitate the settling of the estate and potential sale or transfer of the property. It is advisable to consult with a legal professional for guidance on specific timelines and requirements in this situation.
When a peroson owns a property and has insurance policy on it Then sell the property to someone else and that persons has insurance on it and the property is distroyied by a fire. Who can recover an a?
The present owner is the only person who can recover.
How can you find information on let property insurance?
There are many insurance companies that offer information on LET property insurance both online and at local insurance offices. If a person is interested in obtaining information on LET property insurance then an individual can call a local insurance provider of choice or visit the company's website.
Can your insurance be canceled if you still own the home but am in a nursing home?
Your Home Insurance would not be cancelled due to the owner having moved into a nursing home. However, If the home is now vacant, been rented out or occupied by a different person. Failure to notify the Insurance company of a change in occupancy or other associated risk factors are grounds for cancelling a home insurance policy. Under the terms of your insuring contract (Policy), You are required to notify the Insurance Company of any change in occupancy because this also changes the risk factors associated with your policy. A Vacant home for example, requires a vacancy endorsement to maintain coverage. Occupancy by another or rental homes require a Tenant Occupancy endorsement. Hope this helps.
How does a foreclosure affect an investor purchasing a property at auction?
the person could go into a lifetime of debt....NOT GOOD!
Does landlord insurance cover car damages on property?
No, that's what car insurance is for. If someone hit your car, that person is the one liable for your damages, not the property owner where it was parked.
What does pd insurance stand for?
PD insurance stands for Property Damage. It is a portion of the liability insurance required by most states. This is the part of the policy that will pay for damage that the insured vehicle caused to another person's property, such as a vehicle or some other property.
Does property go into the persons name that is given lifetime rights to it?
No. That person does not own legal title to the property. They simply have the right to the use and possession as long as they live.
