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If the holder of a life estate assigns this right to a third party does the life estate end at the death of the original holder?
Wiki User
∙ 14y ago
Yes. The grant was for the life of the original life tenant and that right is all the life tenant can assign.
Wiki User
∙ 14y ago
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Can a mother will or transfer her life estate to one of her children in the state of Florida?
A life estate is extinguished upon the deah of the original life estate holder. Therefore, one cannot leave a life estate to another person in their will. Generally, rights in a life estate can be transferred, however, they would expire upon the death of the original life estate holder.
Can a life estate be included in the holder's will?
A life estate is extinguished upon the death of the holder. There is no remaining interest that can be passed by will.
Life estate voided?
Only by the death of the life estate holder or by their release of the life estate by deed to the fee owners.
Can a life estate interest be sold?
A life estate is canceled by the death of the life estate holder or by a written instrument signed by the holder that surrenders their rights in the property. In Massachusetts the life estate holder signs a deed to release their rights. In cases where the original grant contained reversionary language and the conditions have been violated the life estate would be extinguished. In that case a written notice to that effect would need to be recorded to clear the title to the property. If a reversionary clause is used in the grant you should also set forth in the grant how the life estate will be terminated if the conditions are violated.
Does a farm lease terminate with the death of the life estate holder?
Yes, if the life tenant was the individual who executed the lease.
Is the holder of a life estate allowed to rent the property while he is absent from the property?
Certainly! A life estate means he can use the property as he desires as long as he lives. That includes renting it out to others. It usually goes for a lot less then a normal rental, because it would end at the death of the life estate holder.
Can a person who only has the right to the exclusive possession use and enjoyment of property sell the property?
You seem to be describing a life estate. The holder of a life estate in real property cannot sell the property because they don't own it. They can transfer their life interest to another person but it would still end upon the death of the original holder. The exception is states that allow "Enhanced Life Estates". Florida is one example. The owner of an enhanced life estate can sell the property.
How long in Maryland can an estate stay active after the original owners death?
i thought 6 months
Who is responsible for credit card debts on death in QLD Australia?
The estate of the deceased. Also anyone that was listed as a co-signer or joint account holder.
What happens to credit card debt after the death of card holder?
This would depend upon the nature of the card holders' estate, whether they had a will, and the laws of their state of residence.
Who is responsible for Spouse credit card after death?
The estate of the credit card holder. If the surviving spouse was an approved user, or co-signee they would also be responsible.
What happens when a mortgage holder dies and has no estate?
If by "mortgage holder" you mean the person who secured a loan with a mortgage, then it will be for a probate court to determine a fair settlement of the amount still owed by the estate to pay off the loan. If there is insufficient value left in the estate after settling taxes and other debts, the lender may have to accept the loss. It would seem a bit odd that the estate does not contain the property that was purchased with the loan.ClarificationIf a mortgage holder dies, they have an estate. The debt owed under the mortgage is part of their estate. You now owe the debt to their heirs unless there is some language in the note and mortgage that the debt will be forgiven upon the death of the mortgage holder. In that case, there must be recorded evidence of that language in order to remove the encumbrance from the property.
