Am I legally libel for property left to me in a will?
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Am I legally libel for property left to me in a will?
My mother died in 2017. She left my sister a life estate in her home. If my
sister decides to sell, she and I are to split the proceeds. My sister has
Canceled the insurance on the home. What is my liability?
Asked on March 27, 2018 under Estate Planning, Tennessee
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
A remainderman (the term for someone who has the remainder interest after the life estate) is not liable for what happens during the life estate, since he or she does not control the property. Of course, the value of what you hope to one day get could be disappated or destroyed if anything happens to or at the home while there is no insurance on it.
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