The holder of a life estate has the right to use property for whatever purpose he or she sees fit without regard to the rights of its fee simple owner. True False

Question

Lucille Avery

Business

28 February, 06:30

The holder of a life estate has the right to use property for whatever purpose he or she sees fit without regard to the rights of its fee simple owner. True False

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Answers (1)

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Miko · Answer 1

The statement is: False.

Explanation:

A life estate comprehends the property that someone owns during a lifetime. The benefit of a life estate is that property will transfer without the need of the beneficiary appearing in the will after the holder is deceased. They cannot put the property on sale until the holder's decease, though. As well, holders cannot do anything at will without consulting their simple-fee owners.