If a person has a life estate on a piece of property do they have to live on that property?
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If a person has a life estate on a piece of property do they have to live on that property?
I was given a piece of property in Texas by my father and he had a life estate on it but did not live on the property. A right of way was sold for a co2 line and my father received the money for it. My question is should the money have gone to me since the property was in my name and I was and am paying taxes on it
Asked on August 15, 2016 under Estate Planning, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
No, a life tenant (the person with a life estate) does not need to reside on the property any more than a tenant in a lease apartment needs to reside there (i.e. or she is still the tenant even if he or she chooses to live elsewhere). Residence is not required as a condition of a life estate.
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