Waste

Question 1

Voluntary Waste

Answer 1

-Any affirmative action beyond the right of maintenance that causes harm to premises
Exceptions:
1. When reasonable for repair/maintenance of land;
2. When given the express right to exploit;
3. When prior to grant, the land was used for exploitation (thus, it was most likely intended);
4. Where the land is suitable only for such exploitation

Question 2

Permissive Waste

Answer 2

• Failure to maintain
• Tenant must do 3 things to avoid liability
  1. Make Repairs
  2. Pay Taxes
  3. Pay Mortgage interest, but not principal
• ** Doesn’t have to insure, but has an insurable interest

Question 3

Ameliorative Waste

Answer 3

• Occurs when the life tenant alters the property substantially but the alteration increases value of land
• Life tenant can alter property without liability to holder of future interest if changed conditions have made property relatively worthles