Florian owns a life estate in Blackacre and Walter owns a remainder interest.

(a) Walter must pay the annual taxes and Florian the interest on any debts on Blackacre.

(b) if the county charges Blackacre a curb and sidewalk assessment, only Walter would have to pay it.

(c) Florian, since he presently occupies Blackacre, must by law pay the insurance on any buildings.

(d) Florian would have to pay for ordinary repairs, such as painting or window replacements and Walter would have to pay for extraordinary repairs such as replacing a furnace.

Question

Haven Barry

Social Studies

28 September, 10:58

Florian owns a life estate in Blackacre and Walter owns a remainder interest.

(a) Walter must pay the annual taxes and Florian the interest on any debts on Blackacre.

(b) if the county charges Blackacre a curb and sidewalk assessment, only Walter would have to pay it.

(c) Florian, since he presently occupies Blackacre, must by law pay the insurance on any buildings.

(d) Florian would have to pay for ordinary repairs, such as painting or window replacements and Walter would have to pay for extraordinary repairs such as replacing a furnace.

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Answers (1)

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Drew Mcdowell · Answer 1

D. Florian would have to pay for ordinary repairs such as painting or window replacements and Walter would have to pay for extraordinary repairs such as replacing a furnace.

Explanation:

Life estate an estate of freehold that exists for the duration of the life of the grantee. In legal terms, it is an estate in real property that ends at death when ownership of the property may revert to the original owner, or it may pass to another person while a remainder interest. A remainder interest gives the holder the right to take ownership when the life estate has ended.