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Life Estate Question? |
My husband owns the deed to a house (plus 1 acre). His mother has a life estate in the home. How can he go about selling the property? Does a life estate protect her rights to the property? Does anyone know exactly how a life estate works? The problem is a bit complicated. She's off her rocker nuts. She can not be reasoned with. One other question, is she allowed to come and go and do whatever she wants to to the house/property? From a lawyer. A life estate allows the grantee to possession of the property for life so you can't sell it without her permission. You could offer her part of the proceeds or make some type of agreement with her so that she would convey her life estate to you. If she is agreeable to this you need to consult a real estate attorney in the state where the property is located. You will not be able to sell the property unless the life estate has been properly dealt with and everything is recorded with the county clerk's office. Most buyers will have an abstract company or title company search the probate and real property records to verify that the seller has proper legal title. If you don't know an attorney call the bar association of your city, county or state. |
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