Can a person inherit a house with a life estate?
If you inherit a house with a life estate attached, the life tenant has a legal right to keep living there. Usually a life estate requires the tenant maintain the house and pay insurance and property taxes on it. At his death, or if he decides to leave, you take possession.
When did my mother leave the property to my brothers?
Q When my mother passed away in 2012, she left her property to me and my three brothers – the deeds have been changed accordingly. One of my brothers has lived in the property for around 25 years.
Can a sister refuse to move out of an inherited house?
Real estate attorney Leo B. Siegel discusses the eviction process for tenants that refuse to move. The tenants could be a sister living in an inherited house, or anyone related or unrelated who lives in the inherited house from parent and refuses to move out.
Why does my Brother live in my mother’s house?
It is possible that some sort of promise was given to your brother by you or your siblings upon which he has relied to the effect that he can stay in the property indefinitely provided he repairs, insures and maintains it.
Who is the owner of the life estate?
His wife’s ownership interest in the property vested at the time of his death. Unexpectedly, two months after John Jr.’s death, his wife committed suicide. She was survived by a daughter from a previous marriage. Upon the wife’s death, her daughter’s ownership interest in the 1/3 interest in the property vested.
Q When my mother passed away in 2012, she left her property to me and my three brothers – the deeds have been changed accordingly. One of my brothers has lived in the property for around 25 years.
What happens to the house if mom passes away?
If mom, daughter, and (perhaps) son-in-law own the house as joint tenants with right of survivorship, when mom passes away the house will go to the other owners without going through probate.
What should I know about my deceased mother’s estate?
You should know that assets in joint names or with a named beneficiary go to the joint tenant or beneficiary. You should also know that separate property (such as inherited property) goes one third to the husband and two thirds to her children, if there is no will or trust.