Life tenancy agreements are a type of legal agreement in which a tenant is granted the right to occupy a property for the duration of their lifetime. This type of agreement is often used by property owners who want to ensure that their property remains in the family or is passed on to a specific beneficiary.

If you are considering a life tenancy agreement, it is important to have a sample agreement to use as a guide. Here is a sample life tenancy agreement:

1. Parties

This agreement is made between [property owner`s name], referred to as the “Landlord,” and [tenant`s name], referred to as the “Tenant.”

2. Property

The Landlord hereby grants the Tenant the right to occupy the property located at [property address] for the duration of the Tenant`s lifetime.

3. Term

This agreement shall remain in effect for the duration of the Tenant`s lifetime, unless terminated as outlined in this agreement.

4. Rent

The Tenant shall not be required to pay rent for the duration of their occupancy. However, the Tenant shall be responsible for all taxes, insurance, and maintenance expenses associated with the property.

5. Maintenance

The Tenant shall maintain the property in the same condition as it was upon their occupancy, except for normal wear and tear. The Tenant shall also be responsible for all repairs and maintenance required during their occupancy.

6. Termination

This agreement may be terminated by the Landlord in the event of the Tenant`s death, or if the Tenant breaches any condition of this agreement. The Landlord may also terminate this agreement with three months` notice for any reason.

7. Successors

Upon the Tenant`s death, the occupancy rights shall transfer to the Tenant`s spouse, if living, otherwise to the Tenant`s heirs at law.

8. Governing Law

This agreement shall be governed by and construed in accordance with the laws of the state in which the property is located.

In conclusion, a life tenancy agreement is a useful tool for property owners who wish to ensure that their property remains in the family or is passed on to a specific beneficiary. If you are considering a life tenancy agreement, it is important to have a sample agreement to use as a guide. Always make sure to consult with legal professionals before entering into any legal agreement.