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An example of a life estate with Jane Smith as the remainderman is "to John Smith for life, then to Jane Smith." Jane Smith is the remainderman in this example because she is the person inheriting title to the property following the death of John Smith.

There is no simple way to reverse a life estate because a life estate deed is a legal transfer of the title of a property. This is legally binding and the transaction is complete when the life estate is executed. Essentially, in order to reverse a life estate both parties would need to agree to make it happen.

Duties Of A Life Tenant While in possession of the land, a life tenant owes the following duties to future interest holders: The duty to pay ordinary taxes on the land and interest on a mortgage: A life tenant has a duty to pay taxes to the extent the property produces income.

An additional potential problem with a Life Estate is that it does not offer creditor protection to the beneficiary, so if the heir has a debt or is sued, the creditor or court can come after the house. As you can see, a traditional Life Estate has the potential to create major conflict within a family.

I am grateful to all of those with whom I have had the pleasure to work during this and other related projects. Each of the members of my Dissertation Committee has provided me extensive personal and professional guidance and taught me a great deal about both scientific research and life in general. Sample Acknowledgement Page vanderbilt.edu ? documents ? Sample... vanderbilt.edu ? documents ? Sample...

A notary public in and for said state, (name of officer signing document) who signed to the writing above, bearing the date of _____(date) (name of corporation) has this day acknowledged before me the said writing to be the act and deed of said corporation.