Posted on: 06th Aug, 2008 06:45 am
My mom passed away in 2006 and deed was in her name only, not including my step-father. Went thru probate and did deed in his name, mine and my brothers. Life Estate deed was filed too. He is now moving out of state and doesn't feel he is responsible for any expenses on the house ie mortgage.taxes, etc. I was told that the only way for him to not be responsible was to quit claim the house to us. Is this correct?
Yes. A life estate holder has a duty to "remainder" holders not to "waste" the property, which means maintaining the property and paying all taxes.
One way to relieve that duty is to quitclaim his interest to the "remaindermen" who then own the property completely.
One way to relieve that duty is to quitclaim his interest to the "remaindermen" who then own the property completely.
welcome shan.
agree with jheard that your step-father can quitclaim the property to you but if he is on the mortgage too then you will have to refinance the mortgage on your name to release him from the mortgage liabilities. how good is your credit? will you afford the monthly payments?
let me know if you have any further queries.
agree with jheard that your step-father can quitclaim the property to you but if he is on the mortgage too then you will have to refinance the mortgage on your name to release him from the mortgage liabilities. how good is your credit? will you afford the monthly payments?
let me know if you have any further queries.
Thank you both for your help. I was told that by him having the life estate that he retains no financial interest in the property, only the debt. We wanted to pay off the remainder of the mortgage relieving him of all expenses on the property but I think he thought that if the home was sold he gets a quarter of the sale.
Hi shan. Welcome back.
If he quitclaims the property, then he will not get anything. But if the property is sold before the quitclaim is filed then he can claim his share of the home equity.
Best of luck,
Larry
If he quitclaims the property, then he will not get anything. But if the property is sold before the quitclaim is filed then he can claim his share of the home equity.
Best of luck,
Larry
My father has a life estate in a home my husband and I own. Dad moved out (without telling us) and does not pay for any part of the house. The arrangement was done legally that we pay all amintenance and taxes and he pays the mortgage, which is in his name. We have paid it for the past two months, afraid of foreclosure, but what else can we do? Long story, he has dementia and does not speak to us anymore. We don't want to lose the house as we have way too much invested. Can someone for forced to quit claim?
Hi kim,
I don't think he is in a state of mind such that he can sign on the quitclaim deed. But it won't be legal and ethical if you force someone to sign on a deed. After all he's your dad. What i think is, you should consult an attorney on the legal aspects of this situation and then if possible refinance the loan in your name while at the same time getting the ownership rights. Does he have a Will by the way?
may god bless your father
Samantha
I don't think he is in a state of mind such that he can sign on the quitclaim deed. But it won't be legal and ethical if you force someone to sign on a deed. After all he's your dad. What i think is, you should consult an attorney on the legal aspects of this situation and then if possible refinance the loan in your name while at the same time getting the ownership rights. Does he have a Will by the way?
may god bless your father
Samantha
Grandparents do a warranty deed to their grandchildren. The Grandfather has since passed away. The deed states he following:
"The Grantors reserve a life estate in and to the subject property."
Does the Grandmother have the right to tell the grandchildren's spouses to stay off of the property?
"The Grantors reserve a life estate in and to the subject property."
Does the Grandmother have the right to tell the grandchildren's spouses to stay off of the property?
Hi angela!
Welcome to forums!
The life estate clause will help the grandmother to stay in the property until death. However, as far as I know, she does not has the right to tell the grand-children's spouses to stay off the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The life estate clause will help the grandmother to stay in the property until death. However, as far as I know, she does not has the right to tell the grand-children's spouses to stay off the property.
Feel free to ask if you've further queries.
Sussane