What rights does the life estate holder have?

• A. Use and occupy
• B. Mortgage the property without approval
• C. Right to lease to others without restriction
• D. Sell the property

Answer: (A)

The essential right in a life estate is possession for life. The life estate holder may use and occupy the property and can enjoy the rents or profits from it during their lifetime. This is the practical, everyday control they have, as long as they don’t commit waste or damage the property.

Beyond use and occupancy, other actions are limited. They can deal with their own life estate—such as transferring it or mortgaging that interest—but that does not give them full ownership or the right to alter the property freely without regard to the future interest holder. They may lease the property, but any lease is temporary and subject to the life estate ending at the holder’s death, and it must avoid waste and protect the property’s value. Selling the property in fee simple isn’t allowed because ownership will revert to the remainderperson after the life tenant’s death.