Is a mortgagor liable for the failure of a life tenant to pay taxes?
MultiRegion, United States of America
The following excerpt is from Travelers Ins. Co. v. 633 Third Associates, 14 F.3d 114 (2nd Cir. 1994):
It is true that the failure of a life tenant to pay taxes has been held waste in so far [sic] as the remainderman is concerned. Stetson v. Day, 51 Me. 434. But a junior mortgagee is not a remainderman, and a mortgagor is not a life tenant. It is significant that despite the long history of the common law action in the nature of waste, there are no cases to be found holding a mortgagor liable in a case such as the instant one.
Id. at 270.
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