Does A Life Tenant Have Responsibilities To Those Holding The Remainder Interest In Property?

A person holding a life estate interest in property is entitled to the exclusive use and possession of the property. The life tenant may utilize the property for his or her benefit and may keep all rents from the property. However, the life tenant may not allow the property to deteriorate or incur liabilities to the detriment of the person(s) holding the remainder interest(s).

To protect the person(s) holding the remainder interest(s), the life tenant is responsible for seeing that real estate taxes are paid.  The life tenant also has a duty to make repairs that are essential to the preservation of the property, even if damages are a result of an act of god.  The life tenant is also required to pay the interest on any mortgages, but may seek contribution from the person(s) holding the remainder interest(s) for any principal payments made by the life tenant.  The remainderman is responsible for the payment on the principal of a debt secured by the property, except to the extent that the debt is for expenses allocated to the life tenant.

Florida Statute §738.508 sets forth the statutory obligation sand apportionment of property expenses between the holder of a life estate and the remainderman.

Upon a sufficient showing that the life tenant is unduly wasting the property (eg. failing to pay taxes or maintain the property), the person(s) holding the remainder interest(s) may sue to compel the life tenant for damages and to provide adequate security to protect the remainder or reversionary interest.

See, Fla. Stat. §738.508; Marshall v. Hewett, 156 Fla. 645, 24 So. 2d 1 (1945); Aronson v. Aronson, 81 So. 3d 515 (Fla. 3d DCA 2012); Schneberger v. Schneberger, 979 So. 2d 981 (Fla. 4th DCA 2008), Chapman v. Chapman, 526 So. 2d 131 (Fla. 3d DCA 1988); Snow v. Arnold, 132 Fla. 435, 181 So. 7 (1938); Williams v. Williams, 120 So. 2d 202 (Fla. 3d DCA 1960).