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What are the rights of the life estate tenant living in the home?
Wiki User
∙ 15y ago
A life tenant is responsible for keeping the property is as good a condition as when they take possession. This means keeping up the insurance, maintenance, and property taxes. You cannot do anything that would hurt the value of the property to the remaindermen. These are the parties that will receive fee simple absolute at the end of the life tenant. In other words, if you find gold on the property, it belongs to them.
Wiki User
∙ 18y ago
Wiki User
∙ 16y agoThe life tenant IS the owner, for as long as he or she lives, with specific future owners standing by to take over. The life tenant (who may choose to live elsewhere) is responsible for taxes, mortgage and other assessments to the property and must not permit it to be "wasted" to the detriment of the rights of the contingent future owners.
Wiki User
∙ 15y agoThe "rights" of a life estate tenant expire unpon that specifically named persons death or departure from the property. They are, in effect, a "tenant" and while alive they may do nothing to degrade the property's value. If they "quit" the property and cease to reside there the property reverts in full to the owner. A person with a "life estate" in a property will/must be specifically named in the legal documetns and this designation does NOT extend to that persons family or relatives.
Wiki User
∙ 12y ago- Maintain the property
- Pay the taxes
- Pay interest on any outstanding loans on the property
Maintenance is the day to day stuff, like fixing a leak or having a plumber fix a pipe. Major expenses, such as a roof or new furnace, are considered the responsibility of the remainderman. Laws may vary in your state or jurisdiction.
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How do you end a life estate after tenant goes to nursing home?
You can have the tenant quit claim their rights to the property. Or sell the life estate to the remainderman.
My wife has lifetime rights to a home. if she died do i have any rights to the property?
No. A life estate is extinguished when he life tenant dies.
Can ex-wife cohabitate in the former marital home if ex-husband still on the mortgage and title?
Rights in the marital home should have been addressed in the divorce settlement. You need to consult with an attorney about your rights as a tenant in common with your ex.Rights in the marital home should have been addressed in the divorce settlement. You need to consult with an attorney about your rights as a tenant in common with your ex.Rights in the marital home should have been addressed in the divorce settlement. You need to consult with an attorney about your rights as a tenant in common with your ex.Rights in the marital home should have been addressed in the divorce settlement. You need to consult with an attorney about your rights as a tenant in common with your ex.
Isn't every home owner a life tenant?
Legally, a life tenant is someone who has rights to the house only during their lifetime. A life tenant cannot leave the house to anyone by will because they do not have complete rights to the house.
If someone gives you lifetime rights to a home what do you need to do to make it legal?
Answer:On the discussion page you explained that you want to give your daughter lifetime rights to live in your home. The legal term for lifetime rights in real property is a life estate. The most common way to create 'lifetime rights' in real estate is by granting a life estate in a deed. However, that may not be the best option to use if your daughter does not have legal capacity.Granting a life estate in real property gives the life tenant the right to the use and possession of the property for the duration of their natural life. The property cannot be mortgaged, refinanced or sold without the written consent of the life tenant. You need to discuss this issue with an attorney who can review your situation, the reason you have made such a decision and explain your options. The attorney should be an expert in estate planning.
Who is the legal owner of a property the home owner or tenant?
The home owner of course. Tenants have tenant´s rights such as 30 day notice before eviction etc., but the home owner owns it.
Having mail forward to someone home. Do that make you a tenant living there?
Certainly not.
How do you disclaim inheritance of a house?
I am a life tenant of a property valued at £250,000 I use it as an occasional holiday home. Is it correct that this property will form part of my estate on death for death duties? If so how can I get rid of it? Think about what you are asking here. The life estate terminates on your death and as such has no value. On your death, the rights are gone. There is nothing to go into your estate. The law of England no longer recognizes the life estate in land. The holder of legal title to the land is considered to hold that land on trust first for the life tenant and then for the remainderman.
How long can an unmarried partner stay in the home once a Life Estate owner dies before it goes to the remainder-man?
The unmarried partner has no rights in the property. The life estate is extinguished immediately upon the death of the life tenant. You have only as much time as the fee owner is willing to give.
What rights do you have living in your mother's home?
It is your mother's home so you have whatever rights she allows you.
Can a executor evict his sister from their late parents' home if it jeopardize the sale of the house and there is no will?
There is no executor if there is no Will. The estate must be probated and the court must appoint an estate representative. That representative will have the power to request a license to sell the property. The representative should ask the attorney who is handling the estate how to handle the sibling who made their home with the deceased parent. The sibling has property rights and rights as a tenant.
What rights do Texas mobile home owners have?
This is quite complex. - Your best way to find out in detail is google " Texas Tenant Rights, Office of the Attorney General"
