“A House Divided”: The Rights and Duties of Homesteaders, Life Tenants & Remaindermen

Explores the often confounding relationship between the homesteader, the life tenant, or both, and the remaindermen or co-tenants. This article will also discuss the various rights and duties among them. Regardless of whether someone dies with or without a will, there are often competing interests when it comes to the right of possession and control of estate assets, particularly real estate. The holder of the homestead right may or may not have an ownership interest in the property. The owner of the remainder interest may or may not be friendly. Finally, the person exercising the homestead right may or may not be in a position to meet the obligations associated with the right. The author hopes this overall summary of the various rights and duties associated with the varying interests will help advise clients so that they can make the best decision as to whether to keep the interest or reach some agreement to part ways.