Which of the following describes the duties of the holder of the Present Interest in an Ordinary Life Estate?

The holder of the Present Interest in an Ordinary Life Estate is expected to maintain the property. This duty arises because the life tenant (the person holding the life estate) is responsible for managing the property during their lifetime. This includes ensuring that the property is kept in good condition, paying property taxes, and carrying out necessary repairs. The maintenance of the property is essential, as failing to do so can decrease its value and impact the rights of the remainderman, who will ultimately inherit the property after the life tenant’s death.

This duty to maintain ensures that the property remains as an asset for the remainderman, protecting their future interest in the estate. Proper upkeep is a fundamental aspect of the responsibilities that come with holding a life estate.