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Selling a home with lifelong use on an estate in trust

Can a person with lifelong use of an estate sell the home and keep the proceeds when there are 3 dependents who are benificeries or called remainderments on the will?

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Attorney answers (1)

Reputation Level 15
Nope. The house does not belong to that person. It's called a life estate. The person in possession may use the property for life and then it passes to the remaindermen (the three dependents). The possessor of the property can take no action that defeats the residual of the remaindermen.

Can't sell it.

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