- Jurisdiction
- New York
Family member LT wishes to create a life estate for a piece of property currently owned by LT, with another family member R as the remainderman and LT as the life tenant.
R is willing to participate provided LT waives the right to sell or transfer the life tenancy to a third party.
Question: Can such a waiver be incorporated into the life estate?
Question: Can LT create the life estate without R's explicit permission (signature, etc)?
Question: Should LT create the life estate against R's wishes, how would R go about refusing/backing out/unwinding it?
R is willing to participate provided LT waives the right to sell or transfer the life tenancy to a third party.
Question: Can such a waiver be incorporated into the life estate?
Question: Can LT create the life estate without R's explicit permission (signature, etc)?
Question: Should LT create the life estate against R's wishes, how would R go about refusing/backing out/unwinding it?
