The distributive property is used in real life when you buy something. say like your at home depot u buy a light. your going to have to distribute the right exact amount of money u have. also u have to distribute how much items u have and also tax
there is no real life situation
cookies
real situation example for x=14>17
You can decide how much food and soda are needed for your party. The amount of gas you will use up for the miles that you drive.
The distributive property is used in real life when you buy something. say like your at home depot u buy a light. your going to have to distribute the right exact amount of money u have. also u have to distribute how much items u have and also tax
_________are a situation that poses a level of threat to life, health, property, or environment.
all hazards preparedness
all hazards preparedness
An emergency is a situation that poses an immediate risk to health, life, property or the environment
A person who has a life estate in the property has the right to the use and possession of the property for the duration of their natural life. You have not explained how the situation came about.
You haven't provided much detail. Therefore, I need to create a situation that fits your question. I will assume you refer to a situation where a living person (A) granted another person (B) a life estate in some property that A owned. A subsequently died and left the property to C in her will. The result is that C owns the property in fee but B has the right to the use and possession of the property for the duration of her natural life.
No. Once the property has been sold the grantor no longer has any rights in the property. Therefore, they can no longer reserve the right to a life estate. If the new owner is agreeable, the property could be reconveyed to the prior owner, then they could draft a new deed reserving a life estate.
Laws vary from state to state regarding the responsibilities of a life tenant. Generally, the life tenant has the responsibility for paying taxes, insurance, utilities, general maintenance and upkeep and other expenses. However, This is a sticky situation because if the life tenant does not pay property taxes the town can take the property for delinquent taxes. If the property isn't properly insured, there could be a loss in case of a fire or severe storm. Therefore the fee owner should always be actively involved in protecting their property.
If you have an outstanding mortgage on your property at the time of your death the lender will take the property if the mortgage isn't paid. You can purchase some type of mortgage insurance or life insurance to pay off the mortgage in the event of your death. Otherwise, your heirs will need to pay it if they want to keep the property.
A deceased person could have their life estate property revised. It is best to seek the advice and assistance of a lawyer.
The situation you described is a complicated situation, legally. I assume your father died and his property descended to you and his widow. The proportionate interests created a tenancy in common. Tenants in common each have the right to the use and possession of the entire property. I assume she conveyed her interest to her children reserving a life estate. You and your step-mother have the right to the use and possession of the property. You should consult with an attorney who specializes in probate law in your area who could review the title and explain your options under your state laws. Perhaps an agreement could be negotiated with step-mother paying some amount for the use of your property.