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

Question

Quizplus · Accepted Answer

As the life tenant, Florian is responsible for ordinary repairs and maintenance to the property, while Walter, as the remainderman, is responsible for more significant or extraordinary repairs to the property. This division of responsibility is a common feature of the life estate/remainder estate arrangement. The other options are incorrect - there is no requirement that Walter pay taxes or Florian pay insurance, and any assessments or debts would likely be split between the two parties.

Florian Owns a Life Estate in Blackacre and Walter Owns