Raj owned the fee simple in a piece of land known as Blackacre, which contained a small

Question:

Raj owned the fee simple in a piece of land known as Blackacre, which contained a small shopping mall. Although he had no children of his own, he was especially fond of his nephew, Ludwig, and his niece, Elise. Raj wanted to ensure that they enjoyed the benefit of Blackacre, especially after he died. He therefore created the following arrangement: Beginning immediately, and for the rest of Raj's life, Ludwig was entitled to enjoy a life estate in Blackacre. Upon Raj's death, Elise (who is 25 years younger than Ludwig) would become entitled to enjoy a life estate in the property. Although all the parties were initially happy with that arrangement, difficulties arose after the economy went into a recession and the shops that had been operating in the shopping mall on Blackacre began leaving the premises. Within six months, the entire mall was empty. Despite protests from Elise, Ludwig did nothing to protect the value of the property, even though vandals were smashing windows and trespassers had begun to use the parking lot as a garbage dump. Has Ludwig done anything wrong? Aside from Elise, is there anyone who might be concerned about the condition of Blackacre?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Managing the Law The Legal Aspects of Doing Business

ISBN: 978-0133847154

5th edition

Authors: Mitchell McInnes, Ian R. Kerr, J. Anthony VanDuzer

Question Posted: