Posted on: 28th Jan, 2008 06:00 pm
My dad has a quit claim life estate. When he passes away who decides what happens to the property. We have the option of getting out of the CRP 15 year contract on his farm land but will the heirs get to make that decision is does the attorney or an executor make the decision for us? It is very costly to get out of the program any other way. My youngest brother wants to buy this property but doesn't want the operator to continue getting 2/3 of the money on the cropland which is the rules in CRP.
Hi Barbie,
Getting out of the CRP contract possibly has no relation to getting ownership rights after your dad passes away. If your father has quitclaimed the property thereby keeping it as life estate, the person to whom he has quitclaimed will get the ownership rights.
Take Care
Getting out of the CRP contract possibly has no relation to getting ownership rights after your dad passes away. If your father has quitclaimed the property thereby keeping it as life estate, the person to whom he has quitclaimed will get the ownership rights.
Take Care
I don't think the heirs can make such a decision when the parent is alive. This is because the parent has signed the contract in his name. If you brother wants to buy the property, he miught have to take over the contract.