A life estate is granted on an Alberta property. Which statement is correct regarding the life tenant's rights?
Correct Answer
B) The life tenant has the right to use and enjoy the property during their lifetime but cannot commit waste
A life tenant has the right to possess, use, and enjoy the property during their lifetime. However, they must not commit waste — meaning they cannot substantially damage or diminish the property's value. Upon the life tenant's death, the property passes to the remainderman, not the life tenant's heirs.
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