What are the responsibilities of a life estate holder, regarding property taxes, property insurance, and upkeep, in Va.
Garner, NC |
I purchased property and gave a life estate on one section. The life estate holder has become unable to live alone, and has moved to another state, residing in an assisted living facility. The property is vacant and in need of up-keep. Also, there is no insurance on this property to protect me in the event of damage, vandalism, or public liability. The life estate holder has refused to pay her portion of the property taxes. The only efforts to main tain the property, have been to mow the lawn ocassionally. The life estate holder has refused to release her claim on the property, allowing me to invest in the upkeep and complete ownership of the property. I do not contest her right to maintain ownership and possession ; however, I do feel she should be responsible for her share of the property taxes, maintanence, and to protect me against loss and public liability. What say you? What are my options ?