Remainderman Mortgage Life Estate

Ask Your Question For Free

Summary

A remainderman in Florida cannot mortgage a life estate without the life tenants knowledge due to the life tenants superior rights. If a life tenant is not of sound mind and is convinced to mortgage the property, it may be considered exploitation under Florida Statute 825.103, which is illegal. Consult a local attorney for specific advice.

Full Conversation

In the state of Florida can the remainderman of a life estate mortgage the life estate *
Under Florida law, a remainderman typically cannot mortgage the life estate for the following reasons:
- The remainderman does not have a present interest in the life estate.
- They only have a future interest that becomes possessory after the life tenant's death.
Please consult with a local attorney for more specific guidance.
In the state of Florida can the remainderman of a life estate mortgage the life estate without the knowledge of the life tenant
In Florida, a remainderman cannot mortgage the life estate without the life tenant's knowledge because:
- A remainderman only has a future interest, not a present one.
- Life tenant's rights supersede those of a remainderman.
For more specific advice, please consult a local attorney.
What if a life tenant isnt in their sound mind and the remainderman convinces the life tenant to mortgage the property is that illegal
In Florida, if the life tenant isn't in their sound mind and the remainderman convinces them to mortgage the property, it could be considered exploitation of an elderly or disabled adult, which is illegal under Florida Statute *.*. Consult a local attorney for advice.