Question

John owns a life estate based upon his own life. He leases the property to a tenant on a five year lease. John, the life tenant, dies two years later. What happens to the lease?

Answer 1

When John, the life tenant, dies, the lease on the property does not automatically terminate. The lease is binding on John's successors, which means that the new owner of the property becomes the landlord and the tenant remains bound by the terms of the lease agreement.

Step-by-step explanation:

When John, the life tenant, dies, the lease on the property does not automatically terminate. The lease is binding on John's successors, which means that the new owner of the property becomes the landlord and the tenant remains bound by the terms of the lease agreement.

The tenant will continue to pay rent and occupy the property until the lease term expires or until the tenant chooses to terminate the lease by giving the required notice. The new owner, who inherits the life estate, will step into John's shoes as the landlord and will have the right to enforce the terms of the lease.

In this case, the lease will be valid for the remaining three years, and the tenant will continue to have the right to occupy the property as per the lease agreement.