§ 700.339. Residency on life estate leases.
210 words·~1 min read·
/us/cfr/t25/s§ 700.339·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)No person may reside on a life estate lease other than the life tenant, his or her spouse, and minor dependents and such persons who are necessarily present, as determined by the Commission, to provide for the care of the life tenant.
(b)In determining who is necessarily present for the care of the life tenant, the Commission shall consider the following criteria:
(1)The age of the life tenant.
(2)The nature and extent of the life tenant's disability, if any.
(3)The location of the life estate lease, including but not limited to, the following factors:
(i)Topography,
(ii)Proximity to water,
(iii)Proximity to fuel,
(iv)Proximity to shopping and medical services, and
(v)Any other factors deemed relevant to the Commission.
(4)The nature and extent of care to be provided to a disabled life tenant.
(5)Any other factors deemed relevant by the Commission.
(c)In the event it becomes necessary to change the identity of the person(s) or number of persons identified as necessarily present for the care of the life tenant, the life tenant shall make such request for change to the Commission. The Commission, upon review of the request, may grant an amended life estate lease to reflect the requested change.