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Can a life estate owner sell property in West Virginia?In: Property Law |
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Answer
No, they do not own the property. They have the right to use the property and any income that might be generated by the property, but they do not own it. If they agree with the owner to sell it, they should be compensated for some percentage of it, based on rental rates or income that it generates.
A life estate owner can't include the property in their will, because upon their death, they no longer have any rights in the property.
First answer by Aggie80. Last edit by Aggie80. Contributor trust: 2274 [recommend contributor]. Question popularity: 5 [recommend question]
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