Property OwnershipLife EstateMEDIUM
In the context of a life estate, which of the following best describes 'waste'?
Correct Answer
B) An act or neglect by the life tenant that permanently damages or diminishes the property's value
In a life estate, 'waste' refers to any act or omission by the life tenant that permanently damages or reduces the value of the property to the detriment of the remainderman. Life tenants have a legal duty to maintain the property and avoid committing waste.
Answer Options
A
An improvement that increases the property's valueB
An act or neglect by the life tenant that permanently damages or diminishes the property's valueC
The failure to pay property taxes on timeD
The renting of the property to a third party without permissionWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Related Topics & Key Terms
Related Topics:
life estateremaindermanreversionary interestproperty rights and duties
Key Terms:
wastelife estateremaindermanlife tenantpermissive wastevoluntary waste
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