Can a person with a life estate move out and rent the property?

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Under the prevailing law in most states, a life estate has the right to do anything with his or her property. It is not mandatory to live there and use it as his/ her home, but the person can obviously rent it out. The holder of the life estate is responsible for maintaining the property, paying taxes, maintaining it in good repair, and not permitting or suffering any “waste” or other damage to it.