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I believe so. The life estate simply governs the ownership of the property. In other words, you can't sell it and the previous owner can't sell it until he or she dies. I believe it is intended to be passed down. It's been a while since I took the course. What you do with the property is up to you so long as there are no stipulations in the will or real estate contract. You just can't sell it. A real estate appraiser or real estate agent should be able to tell you more. Or just grab a copy of a text book in a good library. They devote a whole section to "life estates" in current text books.

Yes. All rental profits belong to the person who holds the life estate decree.


Read the governing documents for the condominium association, to verify that your unit can be rented. You may also be able to discover this restriction by asking a member of the board or the property management agent.
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โˆ™ 2009-10-22 20:20:13
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Q: If you were left a condo in a life estate can you choose not to live there and rent it out?
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Your dad transferred the deed to his condo to your name and reserved a life estate he married after the transfer does his wife have any legal interest in the condo?

If your dad conveyed his condo to you by deed and reserved a life estate for himself then he can use and occupy the condo during his natural life. The life estate will be extinguished upon his death or if he relinquishes it to you by a deed of release before then. His wife has no interest in the property.


What happens with a life estate when the property is sold while the property owner is still alive. Is it automatically revoked?

Nothing happens to the life estate. The life estate remains as long as the person who holds it is still living. Any sale is based on the existence of the life estate. However, if the life estate has not vested, as in the life estate was to be left in a will and they haven't died yet, then the life estate is void.


Can I sell the condo my dad deeded to me with a life estate when he can no longer live there he will be going into long term care?

He will need to consent to the sale by signing the deed.


Is a life estate deed transferable to heirs?

No. When a life tenant dies the life estate is extinguished. There is nothing left to transfer to heirs. In order to make real estate available to heirs there must be a fee interest in the owner at death.


Can I sue the executive of the estate for not telling you about life insurance policies left to you?

yes


Does life insurance have to be left to a spouse or can it be left to another beneficiary than a wife?

No, you get to choose.


What is the definition of remainder?

Anything that remains, or is left, after the separation and removal of a part; residue; remnant., The quantity or sum that is left after subtraction, or after any deduction., An estate in expectancy, generally in land, which becomes an estate in possession upon the determination of a particular prior estate, created at the same time, and by the same instrument; for example, if land be conveyed to A for life, and on his death to B, A's life interest is a particuar estate, and B's interest is a remainder, or estate in remainder., Remaining; left; left over; refuse.


Can a life estate owner leave the property by will prior to the death of the grantor?

No. The grantee of a life estate cannot leave the life estate in a will because a life tenant doesn't own the property, only the right to use it during their life. The life estate ends when the life estate owner dies. That's why it is called an estate for life. After the death of the life tenant there is nothing left to devise by a Will.Sometimes the owner of land simply grants a life estate to another party. In that case the grantor still owns the property subject to the life estate. When the life tenant dies the life estate is ended and the grantor still owns the property. In other cases the owner transfers the property in fee to new owners but reserves a life estate to herself or some other person. In that case the property is no longer owned by that grantor at the time of the grantor's death and so does not become part of the estate. In that respect, a life estate deed is an estate planning tool.


What kind of estate establishes the ownership of property for only the life of the owner?

A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.


Can you change trustees in a life estate?

Trustees are not generally involved in a life estate.Trustees are not generally involved in a life estate.Trustees are not generally involved in a life estate.Trustees are not generally involved in a life estate.


Can executor in a life estate transfer property through a deed?

A life estate is extinguished upon the death of the holder of the life estate.


Is Life Estate part of the deceased's estate?

No. A life estate expires upon the death of the life tenant.


What if a life estate tenant remarries?

Marriage doesn't affect a life estate unless that was made a provision in the original grant of the life estate.Marriage doesn't affect a life estate unless that was made a provision in the original grant of the life estate.Marriage doesn't affect a life estate unless that was made a provision in the original grant of the life estate.Marriage doesn't affect a life estate unless that was made a provision in the original grant of the life estate.


If a father disinherited his children in his will and left life insurance to his deceased wife with no contingent will the money go to the children or the estate?

In most cases it will default to the estate.


How do you get a life estate?

The owner of the property must grant a life estate to you.The owner of the property must grant a life estate to you.The owner of the property must grant a life estate to you.The owner of the property must grant a life estate to you.


Can life estate property be sold to the life estate recipient?

Yes, the remainder can be sold to the life estate holder.


If someone is granted a life estate and they remarry how will this affect the life estate?

Marriage has no effect on a life estate. The only factor that is important is the length of the life of the person that has been granted the life estate.


How do you sever a life estate in Florida?

A life estate is extinguished by the death of the life tenant or by the life tenant executing a deed of release of the life estate.


My mother died in 1998 and left her house to her 4 siblings She gave her then husband not father a life estate in the house Would him getting married again cancel this life estate Thank you Mike Niels?

If your mother granted her husband a life estate in her will the language of the grant would need to be examined for any limitations. If there was no provision made for the life estate to expire upon his remarriage then it lasts for the duration of his life.


Is a life estate a freehold estate or a less than freehold estate?

A freehold estate is a right of title characterized by two features: it is an interest in land and the interest is not of a fixed duration.In the United States a life estate is a freehold estatealthough the ownership is of a limited duration. That duration can be measured by the life of the life tenant or of another person. When the measured life ends the life estate expires.A life estate in England and Wales does not create a freehold estate.


When the grantor of a life estate deceases does the life estate continue with the deceased estate?

The life estate will last as long as the beneficiary lives. The estate will have to remain open until that point in time.


Can the life tenant release the life estate?

Yes, they can release their life estate.


Life estate does your spouse have interest in it?

A life estate is based on a specific person's life. If they are not named in the life estate, they have no interest. They can claim the right to use the life estate as long as the individual is still living.


Can a remainderman sell a life estate without consent of other remaindermen?

You need to reword your question. A remainderman cannot sell a life estate. A life estate must be released by the life tenant. A remainderman can sell their own interest in the property that is subject to the life estate, However, the grantee would take that interest subject to the life estate.You need to reword your question. A remainderman cannot sell a life estate. A life estate must be released by the life tenant. A remainderman can sell their own interest in the property that is subject to the life estate, However, the grantee would take that interest subject to the life estate.You need to reword your question. A remainderman cannot sell a life estate. A life estate must be released by the life tenant. A remainderman can sell their own interest in the property that is subject to the life estate, However, the grantee would take that interest subject to the life estate.You need to reword your question. A remainderman cannot sell a life estate. A life estate must be released by the life tenant. A remainderman can sell their own interest in the property that is subject to the life estate, However, the grantee would take that interest subject to the life estate.


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.