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The life estate is typically attached to the real property (the land/house) only. The goods in the house are distributed according to the will and normally, the expectation is that the person receiving the life estate has the goods in the house already. Example, mom gets a life estate in the house after dad dies. Mom inherits everything in the house from her husband and can do what she wishes with it, including sell it, unless the will specifies otherwise.
What else can I help you with?
What if a Life estate was put in more then one name can home be sold?
A home that is subject to a life estate cannot be sold without the written consent of the life estate holder.
What is Per stirpes with regard to life estates?
That means a testator granted a life estate and when the life estate holder does the property is to be distributed per stirpes to the descendants of the testator.See related question for definition of per stirpes.
Can a holder of a life estate force his children to move from the home they share?
Yes.
What are the rights of a life estate holder who sold his home to family with the right to live in it for life?
money
Can a life estate be included in the holder's will?
A life estate is extinguished upon the death of the holder. There is no remaining interest that can be passed by will.
What is a life estate owner?
A life estate holder has the right to the use and possession of real property for the duration of their natural life. They do not own the property but the property cannot be mortgaged or sold by the fee owners without the consent of the life estate holder. The life estate is extinguished when the holder dies.
What is the term for the holder of a life estate?
The owner of a life estate is called the life tenant.
Life estate voided?
Only by the death of the life estate holder or by their release of the life estate by deed to the fee owners.
Can a mother will or transfer her life estate to one of her children in the state of Florida?
A life estate is extinguished upon the deah of the original life estate holder. Therefore, one cannot leave a life estate to another person in their will. Generally, rights in a life estate can be transferred, however, they would expire upon the death of the original life estate holder.
If the holder of a life estate assigns this right to a third party does the life estate end at the death of the original holder?
Yes. The grant was for the life of the original life tenant and that right is all the life tenant can assign.
How do you refinance a life estate property?
Generally, in order to refinance the property the owner of the property AND the life estate holder must both sign the mortgage. If you are only a life estate holder you cannot refinance the property. A lender will grant a mortgage to the owner of the property only and the life estate holder must sign their consent. See related question link.
Who owns the house equity in a life estate deed?
The owner of the fee owns the equity in the property. The life estate holder only has the right to use and possession of the property for life. However, the life estate holder must consent to any mortgage affecting the premises.The owner of the fee owns the equity in the property. The life estate holder only has the right to use and possession of the property for life. However, the life estate holder must consent to any mortgage affecting the premises.The owner of the fee owns the equity in the property. The life estate holder only has the right to use and possession of the property for life. However, the life estate holder must consent to any mortgage affecting the premises.The owner of the fee owns the equity in the property. The life estate holder only has the right to use and possession of the property for life. However, the life estate holder must consent to any mortgage affecting the premises.
