Caldwell v. Walraven

Sears, Justice.

Summary of the Case

This case raises several issues regarding the property rights of life tenants and remaindermen. This first issue is whether a life tenant who sells property pursuant to a broad power of disposition acquires fee simple title both to the proceeds of that sale and to property subsequently acquired with those proceeds. We conclude that she does not, and hold, as other jurisdictions uniformly have, that the property and proceeds are subject to the life estate and remainders created by the will. The next issue is whether the broad power of disposition granted to…