If someone is left a lifetime estate in a will what does that mean for the person left the property in the will. The owner, person on the deed. The owner lives in the home and is disabled and was told by the lifetime estate person he had to move out in 2 months.
1 Answer from Attorneys
A life estate in property gives the life tenant full and exclusive possession and use of the property. Without knowing more, it would be hard for me to guess if the contingent remainder (owner) would have to move. For sure, that person (owner) should hire an attorney to protect his or her interest. For example, even if he or she has to move, the life tenant may not commit waste on the property, so the owner has a continuing interest in the property's condition. The owner may also have a claim against the estate, or there may be other claims, that would dictate that the property be sold in order to satisfy it. There is a table that would set out the life tenant's percentage of interest in that case, and the owner would be entitled to the rest, after the estate is settled.