Legal Question in Elder Law in Massachusetts

No. Assuming those with the life estate are still alive and still competent, then they can do as they please. As written, it is probably not a true life estate, because of the extent of the unfettered right to use, encumber and sell the property.

Probate court only gets involved in petition to partition a property, probate, disputes involving trust and estates.

Without reading the terms of the "Life Estate" it is not possible to be sure no court consent is required, but it is unlikely given your description that any kind of court consent is required.