Posted on: 14th Jan, 2014 03:43 pm
if the surviving joint tenant of a life estate leaves or does not reside on said property, is there a time limit as to when it can be considered abandoned? When can remaindersman assume occupancy?
what are the options?
Hi chery,
Not residing in the property does not mean that the property is abandoned. If the surviving joint tenant pays for the maintenance of the property, then he or she has not abandoned the property.
Not residing in the property does not mean that the property is abandoned. If the surviving joint tenant pays for the maintenance of the property, then he or she has not abandoned the property.
Laws will vary by state - curious as to what you are looking for here - is their an abandoned property that you are interested in?
Brian
Brian
you can claim an abandoned property by living in it for a certain amount of time which varies by state, but is probably around 7 years. This is called "Adverse Possession". There are other requirements, so check with a local real estate lawyer first.
