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Who owns house in life estate?

In a life estate, the individual who holds the life estate, known as the "life tenant," has the right to use and occupy the property during their lifetime. However, the ownership of the property ultimately reverts to another party, known as the "remainderman," after the life tenant passes away. While the life tenant can enjoy the property, they cannot sell or transfer ownership of it without the consent of the remainderman.


Is the executor of a will allowed to sell property of the deceased one month after he has passed away?

Only if the will of the deceased asked for this to be done.


What are the some advantages and disadvantages of sale and leaseback?

Advantage - You get the money back straight away. Disadvantage If you buy a leaseback property, you are buying it as an investment. The idea behind leaseback is that you buy a property and are guaranteed* rental income year round for that property, normally for France, up to about 4%pa. You then have the option of using the property for holidays at the cost of reduced return.


How can you find out about a companies unethical business practices?

That type of information is not usually published outside the company walls. A company want to attract employees, not turn them away.


Can you transfer life estate to someone else?

Yes, a life estate can be transferred to someone else, but it is subject to certain conditions. The original holder of the life estate, known as the life tenant, can sell or gift their interest, but the new holder will only have the rights to the property for the duration of the original holder's life. Once the life tenant passes away, the property will revert to the remainderman, the individual or entity designated to receive the property after the life estate ends. It's advisable to consult with a legal professional to ensure proper handling of such transactions.

Related Questions

What happens if you walk away from your home that cannot be repaired in CT?

If you have a mortgage that you walk way from your credit will be ruined when the bank forecloses and it will go after you for deficiencies when the property is sold for less than what you owe. Also, the town will initiate a tax taking procedure against you for unpaid property taxes. That will also show up on your credit report. The city and the bank can add any costs associated with the removal of debris, upkeep and with securing the property.


Will Travel Guard Insurance cover my property loss?

Insurance is very important while away in a different county. And While travel guard has many great policy's none include the coverage of personal property, but you can pay an extra fee to add that on to any policy.


Property of energy transfer that is always away from the source?

Infrared radiation is a property of energy transfer that is always away from the source.


How do you keep hawks away from your property?

Use a repellent on its prey on your property.


Are pocket bikes legal in western Australia?

They are illeagle. You might be able to get away with it for a little while but eventually you will get caught. you can use them only on private property.


The testator gave property away as gift prior to their death. Can others mentioned in the will sue this person?

No. First, a will doesn't become effective until after the death of the testator. Second, only the property owned by the testator at the time of death becomes part of the estate. If they gave away their property during life, that property is gone and whoever received the gift during the life of the testator is the rightful owner. Remember that a person can do what they want with their own property while they are alive and a will only distributes any property owned at death.


What rights did the Loyalists take away from the Patriots?

The British took away property.


How do I set the alarm while not at home?

There are many solutions for setting your alarm away from home. Many of the home security companies have apps for computers and smart phones that allow you to set your alarm while on the go.


How effective is the u scram chipmunk deterrent in keeping chipmunks away from your property?

The effectiveness of the uScram Chipmunk deterrent in keeping chipmunks away from your property varies. Some users report success, while others may not see the desired results. It is important to consider factors such as the size of your property, the number of chipmunks present, and the specific habits of the chipmunks in your area when determining its effectiveness.


What companies give away the most free stuff?

The companies with non perishable items


You gave your son a driveway right away to your property does that cause there to be a lien on your property?

It should not if it is properly recorded as a property easement.


Wrongful taking away of anothers property by a person who has been entrused with that property?

embezzlement