Life Estate

[Jubes]

I recently inherited a piece of property with a life estate. What rights does this give the person with the life estate? Do they forfit it if they move off the property? I've asked my lawyer questions but he is not too sure on the matter. Do they have to pay rent or land tax etc. if they are the main occupent of the home?

[elklaw]

Life estate means that the person has the right to live on the property for life, but the conditions of that life estate vary from will to will, and from state law to state law. I suggest that you consult the state law for life estate for the state that the property is in and the state under which the will was written as a guide to what the deceased meant by giving a life estate. Many state laws give widows and widowers life estates in the marital home, especially second or subsequent spouses.

[Jubes]

the property is located in the state of Montana. The life estate was placed there before the owner died back in 97 and there was no Will.

[Jubes]

My lawyer isn't really helping me. So I need to know where I can get more information on the life estate matter since property taxes are due and from what I read the life estate is reuired to pay them. I have found out that I am simply the remainder-man which means I have no rights to the property until the death of the life estate. But what happens if the life estate doesn't pay the property tax and loses the propery?

I really just need to know where to look to get the information on this

[kitty18]

When you find the answer let me know because I have a simular problem.

[brauer100]

I am not a lawyer, but I am in a similar predicament. It is my understanding that, according to Ohio law, the person with the life estate has to pay all taxes, insurance, etc. on the property. If she doesn't, then you have the right to sue for devaluation of the property. Again, I'm not a lawyer, this is simply my interpretation of the law as it is in Ohio.