Posted on: 19th Nov, 2009 09:23 am
the remainder interest holders are buying out the remaining 1 of 2 life tennants per there request and are relocating. can this be done by completeing a quit claim deed for the purchse price of the percent entitled to the life tennant? and would you recommend a signed agreement of any type to be signed?
i think it's always advisable to put the terms of a buyout in writing, don't you?
I do agree on an agreement. We would like a purchase agreement, do you know or have seen any other type of another agreement. Can be a simple one, non threating? And if so could you provide or provide me direction as to where I could find.
i cannot help along those lines - my suggestion is that you engage an attorney to help you.
but of course, you would want an attorney who's not only well-versed in real estate, but also in matters of estates, estate planning, etc.