Posted on: 12th Jan, 2009 12:12 pm
in 1984, in ohio, my grandparents signed a quit claim deed, transferring their property to me...and my 2 brothers. just after the property description, it states "the above described premises is subject to a life estate therein of...(my parents' names are listed there)." the house is sitting empty and i have been paying for the upkeep. do my parents have control over the house? they are both still living. thank you in advance for your remarks.
Hi scottelainevh,
Due to the life estate mentioned in the deed, your parents will have the right to stay in the property until death. But as the house is sitting empty and if they are not living in the property, you can negotiate with them and sell off the property. As far as I know, your parents cannot sell off the property without your permission as both of you are the beneficiary to the property but you may sell off the property after you negotiate with them.
Thanks
Due to the life estate mentioned in the deed, your parents will have the right to stay in the property until death. But as the house is sitting empty and if they are not living in the property, you can negotiate with them and sell off the property. As far as I know, your parents cannot sell off the property without your permission as both of you are the beneficiary to the property but you may sell off the property after you negotiate with them.
Thanks
Hi Jameshogg...
Thanks for your knowledgeable reply! Much appreciated!
Thanks for your knowledgeable reply! Much appreciated!