Clark v. Leverett

Where a policy of insurance, to the full value of the property, is taken out by the life-tenant for his own use, *490and the premises are destroyed by fire, and the full insurance is collected by him, the authorities on the question of the rights of the remaindermen in the proceeds of the insurance money are in conflict. Different rules have been adopted by different courts. We may designate them as the Massachusetts, Rhode Island, and South Carolina rules. The Massachusetts rule is as follows: “A life-tenant is not required to use the proceeds of insurance obtained by him on a total loss of…