Old Uncle Isaac has a cold and has become very morbid, talking continuously about funerals, death, and wills. Now he asks if he should give wife Juliet a life estate. Which of the following is a true statement about wills and life estates?
A) The life tenant is entitled to exclusive possession of the property for an indefinite period of time.
B) The owner of the fee simple can grant a life estate only while he is alive.
C) If Isaac doesn't make out a will, his property will revert back to the Crown.
D) A life estate can only be created by contract.
E) The holder of a life estate must pay for normal upkeep, pay fees and taxes, and not harm the value of the reversionary interest.

Question

Quizplus · Accepted Answer

A life tenant is responsible for maintaining the property, paying taxes, and ensuring that the property's value is not diminished for the reversionary interest holder.

Old Uncle Isaac Has a Cold and Has Become Very