A life tenant is treated as the owner of the property during the duration of the life estate.

Question

Quizplus · Accepted Answer

A life tenant has the right to possess and enjoy the property during their lifetime, and as such is treated as the owner of the property during the duration of the life estate. However, the life tenant is restricted in their ability to dispose of the property or make changes that would have a significant impact on the value of the property beyond their lifetime, as the remainderman (the person who will own the property after the life estate terminates) also has a vested interest in the property.

A Life Tenant Is Treated as the Owner of the Property