Posted on: 05th Feb, 2011 01:44 pm
I am the granter of my mom's life estate and she has recently died. Her boyfriend currently lives there. If he chose to move am I forced to sell the house and split it with him since his name is on the deed as a life estate??
Hi Lisa,
If you sell off the property, then you'll have to split the amount with the boyfriend if his name is mentioned in the life estate. Moreover, the boyfriend should agree to the sale of the property.
If you sell off the property, then you'll have to split the amount with the boyfriend if his name is mentioned in the life estate. Moreover, the boyfriend should agree to the sale of the property.
A life estate is an interest in property for the term of a person's life. Once that person dies, the interest reverts to the "remainderman" (or "remainder beneficiary" or "reversion beneficiary") who is named in the deed.
