Howdy all, I have some general questions regarding the rights/responsibilites of a person exercising a florida life estate.
Five years ago my father passed away, willing his Florida home to me and my sister. He was marrried at the time for 3 years (the home was fully paid for before he got married), so his widow was awarded a life estate.
She has been living in the house and paying bills/taxes since that time. She now has contacted us in hopes of selling the home (estimated value $500k) and wants a ridiculous share of the sale. My sister and I believe she is having trouble maintaining the house and wants to move to another state where her children live (she already owns a house in that state). My sister and I believe she should not profit from the sale, since she never paid for house in the first place and it was willed to us.
The questions I have are:
1. Can she legally rent the house and profit from it without owning it?
2. Is she required to pay for disaster insurance (fire and flood)?
3. Is she required to allow us on the property so we can inspect it?
Thank you for any help you can provide.