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You cannot place a lien on the real estate since the life estate provides only the right to the use and possession of the real estate during the life of the life tenant.
If the rights under the life estate are transferred, those rights last only during the life of the original life tenant. The life tenancy is extinguished upon the death of the original life tenant. That makes a life estate difficult to sell and difficult to assign a value. It has value only to the extent that someone will pay for use of real estate during the life of the life tenant, for an uncertain period. There is not an active market for the sale of life estates.
You should consult with an attorney in your area who can review your situation and explain your options.
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Can creditors put a lien on a house that is in a life estate?
Yes, they can place a lien on real estate. That may mean they get nothing if the individual dies, because they can only lien on the rights of that individual.
If life insurance is considered part of an estate is that money used for medical bills and debt?
Life insurance is not considered part of an estate and is not available to pay the decedent's bills and debts. Even if there is no money whatsoever to pay bills, the insurance is not part of the estate. The only exception would be if there were no existing named beneficiaries or if the policy is payable to the estate. But even there, keep in mind that it isn't the "insurance" money that is now available to pay the debts. It is "estate" money, because the proceeds were payable to the estate. The Federal government will include life insurance proceeds as part of the gross estate for federal estate tax purposes, but that does not mean they are actually part of the estate.
Can creditors put a lien on life insurance?
A lien against the fee owner, or remainder person, will be subject to the life estate.A lien against the fee owner, or remainder person, will be subject to the life estate.A lien against the fee owner, or remainder person, will be subject to the life estate.A lien against the fee owner, or remainder person, will be subject to the life estate.
Does an owners life estate hinder my forcing the sale of land?
A life estate grants the right to the USE and POSSESSION of real property for life. The holder of a life estate is not the owner of the property. Therefore, you cannot take possession of the property and sell it if you have a judgment lien only against the life estate holder. If you have a judgment lien against the owner of property that is SUBJECT TO the life estate of someone else, the property would remain subject to the life estate if you took possession and tried to sell it. You would need to find a buyer who is willing to honor the existing life estate.
Can a lien be placed on a home deeded with lifetime rights?
Yes, they can place a lien. The property still has value and the life estate doesn't effect that.
When a widowed person dies whos estate only includes a mobile home and car and they have a Will Do these two pieces of property have to be sold in order to pay medical bills?
Yes, if there is no life insurance or other resources that can pay for the medical expenses the estate will be required to sell enough property to cover the debt.
Can a life estate stop liens from being effective on a house that's paid for?
No. However, it depends on the type of liens. Liens against the fee owner can be recorded but may be subject to the life estate. Property tax liens take effect in spite of a life estate. You need to be more specific as to the type of lien and who is the debtor.No. However, it depends on the type of liens. Liens against the fee owner can be recorded but may be subject to the life estate. Property tax liens take effect in spite of a life estate. You need to be more specific as to the type of lien and who is the debtor.No. However, it depends on the type of liens. Liens against the fee owner can be recorded but may be subject to the life estate. Property tax liens take effect in spite of a life estate. You need to be more specific as to the type of lien and who is the debtor.No. However, it depends on the type of liens. Liens against the fee owner can be recorded but may be subject to the life estate. Property tax liens take effect in spite of a life estate. You need to be more specific as to the type of lien and who is the debtor.
If a person puts a house in life estate can a lien for credit card debt be put on a house after the person dies?
no
When a divorced father passes away and there's only a living will a small life insurance policy for the funeral and Daughter is made power of attorney is she responsible for remaining medical bill?
She is not responsible for the medical bill as long as the didn't sign at the hospital saying she was the responsible party. Was the daughter the beneficiary of the life insurance policy? If the beneficiary of the policy was the estate of the insured then the hospital can file a lien against the estate and life insurance to cover the medical bills. If the beneficiary was a funeral home to pay for a prearranged funeral then the hospital cannot attach the policy proceeds. If the beneficiary was the daughter directly then the hospital cannot claim the life insurance proceeds. However, this leaves the daughter with no obligation to use the entire amount for funeral arrangements.
Will your life insurance with your children as beneficiaries pay for your medical bills if you die?
no
Can liens be placed against a life estate to collect medical bills?
There is a statutory period during which creditors can file claims against an estate that has been admitted to probate. Any entity that provided medical treatment, supplies or services for the decedent may file a claim. Claims that have been properly filed must be paid before any assets can be distributed to the heirs.
Can you fight against a life estate because of the grantee not paying the household bills for over 1 year now?
You need to consult with an attorney who can review the laws that govern life estates in your state, the instrument that created the life estate, and explain your optiions.
