Seller's Ex-wife is on title as Life Estate, is this a red flag?

[Andrew Shrigley]

I'm negotiating a deal on a property, and when I did a title search through the county website I found that the seller's ex-wife is on the quit claim deed as a life estate interest. After normal quit claim statement it states:

EXCEPTING AND RESERVING unto Grantor(s) a life estate interest in the above described real estate on the terms listed below.

TERMS OF LIFE ESTATE

"Grantor shall retain the right to use, occupy and possess the real estate described herein for the remainder of Grantors life. Grantor shall have full power to use and dispose of the  entire distributable income from said real property and shall be responsible for payment of real estate taxes thereon. The life tenant shall have the right to execute leases, geophysical exploration, easement, and right of way payments paid on account of the land during his lifetime. Grantor may commit waste on the premises if he desires to do so."

Anyone out there have any insight on this? Quit Claim says convey, release and quit claim all grantor's rights, title and interest in and to the property but then states this about the life estate. 

-Andrew