Posted on: 21st Apr, 2010 07:41 am
Currently my siblings and I are 50% interest holders of a house in Texas with our step mother, who is currently exercising "life estate" rights by occupying the home.
the question is are we responsible for paying 50% of the expenses as long as she is living there? The reasonI am asking is she has asked us to pay 50% of the homeowners insurance cost.
On a side note...the settlement of the estate conveyed these rights to the siblings through a special warranty deed.
the question is are we responsible for paying 50% of the expenses as long as she is living there? The reasonI am asking is she has asked us to pay 50% of the homeowners insurance cost.
On a side note...the settlement of the estate conveyed these rights to the siblings through a special warranty deed.
Hi randallScott,
If your name is on the property deed, then you are responsible for paying for the maintenance of the property including the homeowner's insurance cost. Your step-mother only has the life estate rights to the property. She is not the sole owner.
If your name is on the property deed, then you are responsible for paying for the maintenance of the property including the homeowner's insurance cost. Your step-mother only has the life estate rights to the property. She is not the sole owner.