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Definition of Letting Property Go to "Waste"

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  • 01-16-2014, 05:26 AM
    Disagreeable
    Re: Definition of Letting Property Go to "Waste"
    There is one effective countermeasure that I believe can be employed. It appears the remainder-man can sell the property and life tenant is only entitled to the value of their life estate. Subtract the waste and his life tenancy decreases in value significantly. I have provided a link to the source of my hypothesis.

    See page 24
    http://crlaw.com/news/wp-content/upl...ch-20-2012.pdf
  • 01-16-2014, 07:44 AM
    camman
    Re: Definition of Letting Property Go to "Waste"
    In the Lord of the Rings "The two Towers" the impenetrable fortress was breached by a single seemingly insignificant weakness. My goal is to win the battle, not the war. The war will be won by letting the battlefield implode on its self.

    In any litigation I have learned from past trademark/copyright cases, it matters not who is in the right. The ONLY thing that matters is who has the most coin to spend on litigation.
    My enemy is ignorant as so I'm I. But I have a skill of obtaining information. He doe's not ( without paying for it). Again I would like to thank all who have responded to my thread. I am a "SEABEE" I Am an "A#1CDMF" I will not quit. I will not give up.
  • 01-16-2014, 08:21 AM
    harrylime
    Re: Definition of Letting Property Go to "Waste"
    Quote:

    Quoting Disagreeable
    View Post
    There is one effective countermeasure that I believe can be employed. It appears the remainder-man can sell the property and life tenant is only entitled to the value of their life estate. Subtract the waste and his life tenancy decreases in value significantly. I have provided a link to the source of my hypothesis.

    See page 24
    http://crlaw.com/news/wp-content/upl...ch-20-2012.pdf

    The remainderman can generally sell his/her remainder interest. He/she can't just abrogate the life tenancy. The life tenant would have to be willing to surrender the life estate.



    Quote:

    camman: Can the remainderperson grant me a lease?
    Short of some very, very, very unusual provisions in the deed, no.
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