Legal Question in Wills and Trusts in North Carolina

The original owner (assuming the property is owned free and clear) can convey to anyone else and reserve a life estate. Think of a bundle of sticks as representing property ownership. By keeping a life estate, the owner has kept 1 stick and given away 99 sticks.

The original owner is still the owner in the sense that the owner is liable for upkeep, taxes, insurance and cannot commit waste (allowing the property to decline). So the owner has to maintain the property for his or her natural life. He or she can even rent it to someone else for a period based on the life of the original owner/life tenant. If the owner wants to sell, the remainderman (the person to whom the land was conveyed) has to agree.