Posted on: 07th Feb, 2007 07:34 am
mom & step-dad arrived at my door a few years ago w/a quit claim deed for me re: their land & home. they wanted me to have it so i could sell it if one of them died and the other needed money to be cared for. my step-dad (of 30 yrs) is now in a nursing home w/dementia (alzhiemer's) & my mom is in poor physical health and needs the financial backup. i have a buyer for the property, but greedy step-brother, who is his dad's dpoa, is causing problems, saying there's a life estate clause in the original deed. does that cause a problem selling the property? neither parent is physically able to live on the land anymore.
Sarah, if there is a life estate then the property can not be sold. With a life estate the owner retains the right to continue living in the home for the rest of his life.
Yes Sarah, if there is a life estate on the deed, then you will not be able to sell the property. Your parents have the life estate, so they can stay in the property till their death.
"greedy step-brother, who is his dad's DPOA, is causing problems, saying there's a Life Estate clause in the original deed."
You should not believe what he is saying and ask to see the actual deed. Even if has a life estate clause you should be allowed to check.
You should not believe what he is saying and ask to see the actual deed. Even if has a life estate clause you should be allowed to check.
What if the life estate clause allows the surviving parent to give up the life estate thereby forcing a sale? Would this not be a way to give the parent some (rather than none) cash for care expenses.
Hi nade,
They can surely give up the life estate thereby forcing the sale. But the problem is both of them are ill and the step-brother is legally the POA. I think you should consult an attorney because he can provide you a solution to get out of this sticky situation.
They can surely give up the life estate thereby forcing the sale. But the problem is both of them are ill and the step-brother is legally the POA. I think you should consult an attorney because he can provide you a solution to get out of this sticky situation.
my parents have a life estate in my land, what rights do I have as far as renting my home on this land? what rights do I have if I choose to fence off my land from my neighbors land?
Hi
Is the title in your name with your parents retaining a life estate on it? If you are on the title you surely have a right to the property and can rent it.
Is the title in your name with your parents retaining a life estate on it? If you are on the title you surely have a right to the property and can rent it.
My grandparents did a life estate on their home to me and my brother in the early 90's. My grandmother has since passed and my grandfather would like to sale the house and move closer to me. Can he sale it, if me and my brother sign to do so?
yes, greer, if all parties agree that a sale is appropriate, then doing so is perfectly fine.
If I received a quitckaim deed from my parents with no life estate clause and for the sum of "no consideration", can a following unofficial agreement grant them a life estate. The unofficial agreement was signed, but not notorized or filed with the county clerk. My minor children signed as witnesses.
Hi Jon,
The unofficial agreement does not have any legal validity. Thus, it cannot grant your parents a life estate. The agreement must be properly notarized and recorded for it to be legally valid. Moreover, minor children cannot sign on the agreement as witnesses.
The unofficial agreement does not have any legal validity. Thus, it cannot grant your parents a life estate. The agreement must be properly notarized and recorded for it to be legally valid. Moreover, minor children cannot sign on the agreement as witnesses.
My grandmother did a lifeestate on her property to us three siblings inheriting it once she dies, however, she deeded the land over to us a year ago, we went to sell the property, but the title came up she is still the owner of the mobile home, she is still living and may not be willing to sign over the title. what actins can we take to continue with the sale?
if your grandmother is "not willing" then that ought to be what it is. why would you want to force your grandmother to accede to your wishes? do you have a serious, favorable plan for the rest of her life? have you explained that to her? is your plan at all compatible with her own?
Parents named us as co-beneficiaries of home in 1992-they reserved right to stay in home. Now father passed away and mother age 88 to sell home and move in with my brother. Is proceeds of sale split evenly three ways or is there chart based on her age showing value she receives??
Hi Jackie,
Since your parents signed over the title to the property to you and your brother, you are now legal owner of the property. After the death of your parents, the property would have been distributed among you and your brother equally. But since your mother is still alive and holds life estate to the property, she will also be entitled a certain share of the property. Thus, I don't think the property will be distributed equally among you three, but I do believe your mother will receive a certain portion of the sale proceeds depending on how old she is and how long she has hold the life estate rights.
Since your parents signed over the title to the property to you and your brother, you are now legal owner of the property. After the death of your parents, the property would have been distributed among you and your brother equally. But since your mother is still alive and holds life estate to the property, she will also be entitled a certain share of the property. Thus, I don't think the property will be distributed equally among you three, but I do believe your mother will receive a certain portion of the sale proceeds depending on how old she is and how long she has hold the life estate rights.