What happens to a lease when the owner of a life estate dies?

When the owner of a life estate dies, the lease is valid as long as the owner is alive. A life estate grants an individual the right to use and occupy a property during their lifetime, after which the property passes to another party, known as the remainderman.

As long as the owner of the life estate is living, any lease they enter into will remain effective and enforceable. Once the life estate owner passes away, their right to the property ceases, and so does their ability to uphold or enforce any leases they have created. This is because the lease is contingent upon the life estate holder's continued existence. Thus, while the owner is alive, leases they create are valid and continue to be honored; however, upon their death, the lease is no longer enforceable as the owner no longer has rights to the property.

The other options suggest different interpretations of how a lease functions in relation to a life estate, but do not accurately reflect the principles governing such arrangements. Understanding this principle is essential in real estate practice, especially in transactions that involve varying estate types.