0
Can a life estate owner leave the property by will prior to the death of the grantor?
Wiki User
∙ 13y ago
No. The grantee of a life estate cannot leave the life estate in a will because a life tenant doesn't own the property, only the right to use it during their life. The life estate ends when the life estate owner dies. That's why it is called an estate for life. After the death of the life tenant there is nothing left to devise by a Will.
Sometimes the owner of land simply grants a life estate to another party. In that case the grantor still owns the property subject to the life estate. When the life tenant dies the life estate is ended and the grantor still owns the property. In other cases the owner transfers the property in fee to new owners but reserves a life estate to herself or some other person. In that case the property is no longer owned by that grantor at the time of the grantor's death and so does not become part of the estate. In that respect, a life estate deed is an estate planning tool.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Can someone who is a life tenant leave the property to a sibling in his Will?
AnswerNo, a life tenant has the use and possession of the property for the duration of their natural life. Upon their death the life estate is extinguished. The property does not become part of their estate.
What are the essential features of freehold estate in fee simple?
The essential features of an estate in fee simple are that you can transfer the property by deed during your life and leave it to your heirs after your death. It is absolute ownership.
Can you leave a life estate if you owned the property jointly?
No. At the moment of death your interest disappears and the surviving joint tenant becomes the sole owner. You have nothing to leave to anyone else.
Can a Hindu widow make a will of the property when she was givne a life interest in the same by will of her husband?
It would not make sense to do so. The will is executed at her death, and her life estate ends on her death, so there is nothing to leave.
If my daughter dies before me what happens to the life estate I made?
I will assume that you conveyed your real property to your daughter and reserved a life estate in that property. In that case, your daughter is the owner of the property. She can leave it to someone in her will or it will pass to her heirs-at-law under the laws of intestacy in your state. Generally, if she is married with children, her husband and children will inherit the property if she has no will. You can check your state laws of intestacy at the related question link provided below. Your daughter's death will not affect your life estate. Whoever would inherit her property upon her death either by will or by intestacy would inherit it subject to your life estate.
How can I dispose of the clothing for an estate?
You would be better to leave all property disposal to the estate's administrator or executor.
Can a grantor name himself as a trustee of an irrevocable living trust?
Generally no. In an irrevocabe trust the grantor cannot maintain any control over the trust property. Trust law is very complex and trusts are subject to the IRS Code. If not properly drafted a trust can also leave the trust property exposed to creditors. Anyone contemplating the creation of a trust should seek the advice of an attorney who is an expert in estate planning, tax law and trust law.
What is the benefit of placing term life insurance in a irrevocable trust?
The grantors of an irrevocable trust can take out life insurance on themselves and put it (term or whole life insurance) in the trust in order to pay the estate taxes on their estate assets when they die. This allows the grantor (giver of assets) to leave his estate assets to his children or someone else (beneficiaries) without them having to pay estate tax, or death tax as some call it.
Why would someone leave a life estate?
I will assume you mean to ask why a testator would leave a life estate to another person in the testator's will.A testator provides another person with a life estate to make certain that person will not be "put out" by the people who inherit the property. They want to make certain the life estate holder will have the use and possession of a home for the duration of their natural life. It is a way of still taking care of someone you love even after you have died while still preserving the property for your heirs. Upon the death of the life tenant the heirs, or remainders, own the property free and clear of the life estate.
Your brother is refusing to leave your deceased mothers property and you have not signed the final probate yet?
You have not disclosed whether your brother inherited an interest in the property, why he should leave the premises or what your position is. Generally, in the US, title to real estate passes to heirs at the moment of death. As soon as the estate is filed for probate legal title is perfected. As an heir your brother may have the right to the use and possession of the property. You may add more details on the discussion page.
Can a executor ask a beneficiary to move out of the house?
Yes, they can ask them to move out. The property belongs to the estate. The executor can sell the property or transfer its ownership as directed by the will or the court.
What has the author Barry Seltzer written?
Barry Seltzer has written: 'How to Leave Your Estate to Your Dog' 'No one should have an unplanned death' -- subject(s): Estate planning, Popular works 'How to Leave Your Estate to Your Cat'
