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Retirees: Life Estates

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Forum: RetireesReplies: 3, Views: 71
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Laurel, DE
(Zone 7a)

July 9, 2008
6:10 PM

Post #5230345

My MIL recently was given property as a Life Estate. The Nature Conservancy was willed the property and she is now able to retain the vacation cottage until her death. The NC wants her to sign something stating she will pay the taxes (substantial) and maintain insurance fire/flood etc. on the property.
What exactly is she responsible for? She does not live there and is unsure what to do.

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