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When you have a deed with a living estate clause do you take ownership of the property on the date filed? |
My father gave his property to me. He had a warranty deed made with the clause of a living estate. My question is, when did I actually own the property. Was it when the paperwork was filed with the clerk of the court or when my father passed away which terminated teh living estate clause. While your father was living you did NOT own the property. You owned a remainder interest in it. Had you wanted to, you could have sold this interest but the property would still be encumbered by the life estate. When your father died the life estate ended and you took full possession of the property |
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