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A life estate deed is a deed form used to transfer property to one party automatically upon another party's death. The life tenant's interest is called a life estate. The interest that passes to the remainder beneficiary is called a remainder.
Michelle is responsible for maintenance because she is the life estate owner. She must pay for the new furnace and can choose the type of furnace without Carol’s consent.
Berry has an ownership interest in the property subject to the life estate interest, but does not have the right to occupy, possess or otherwise use the property until the life estate is terminated.
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