MIG-1.0: Explain the causes of migration to colonial North America and, later, the United States, and analyze immigrations effects on U.S. society. WXT-1.0: Explain how different labor systems developed in North America and the United States, and explain their effects on workers lives and U.S. society.
A person who has a life estate must maintain the property. This duty includes common upkeep so the property does not deteriorate. It also includes paying bills associated with the property, such as real estate taxes and insurance. A life estate owner has full rights to use the property during his lifetime. He may also lease or sell his interest in the life state, although he cannot sell the property itself. Life estates interests always end when the original life estate owner dies. Therefore, they can be difficult to sell or lease long term.
Life estates can be especially beneficial when the land is the family home. For example, a husband might write in his will that he leaves his wife a life estate in their home and the remaining ownership rights to his son. When the husband dies, his wife becomes a âlife tenantâ and continues to live in their home.