Certain obligations exist with Life Estates in Effect:a) Owner does not possess the property, has no rights to rent the property, doesnot maintain the property, responsible for none of the costs and expenses, andyou hold possession as long as you live. If you die, the estate reverts back to meas an 'estate in remainder.b) Owner does possess the property, has rights to rent the property, doesmaintain the property, is responsible for the costs and expenses, and you holdpossession as long as you live. If you die, the estate reverts back to me as an'estate in remainder'.c) Owner does not possess the property, has rights to rent the property, does notmaintain the property, responsible for none of the costs and expenses, and youhold possession as long as you live. If you die, the estate reverts back to me as an'estate in remainder'.d) Owner does not possess the property, has no rights to rent the property, doesnot maintain the property, responsible for none of the costs and expenses, andyou hold do not possession as long as you live. If you die, the estate reverts backto me as an 'estate in remainder.abCd

The question revolves around the concept of life estates, a legal arrangement where an individual…

Answered: Certain obligations exist with Life…

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