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Yes, you can sell a life estate. It is very difficult to value something that is dependent on the life span of an individual. And few people want to buy a life estate.
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∙ 9y ago
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Can the owner of a life estate in Florida sell or mortgage the property if a remainderman is on the deed?
They can only sell their rights to the property. Which only last as long as they live. No one would accept a mortgage on a life estate.
Which is better a life estate or an enhanced life estate?
An enhanced life estate gives the life tenant the power to sell and mortgage the property. A conventional life estate grants only the use and possession for life. However, enhanced life estates are not available in every jurisdiction. Florida is one where enhanced life estates are recognized. You should discuss it with an attorney who specializes in real estate.An enhanced life estate gives the life tenant the power to sell and mortgage the property. A conventional life estate grants only the use and possession for life. However, enhanced life estates are not available in every jurisdiction. Florida is one where enhanced life estates are recognized. You should discuss it with an attorney who specializes in real estate.An enhanced life estate gives the life tenant the power to sell and mortgage the property. A conventional life estate grants only the use and possession for life. However, enhanced life estates are not available in every jurisdiction. Florida is one where enhanced life estates are recognized. You should discuss it with an attorney who specializes in real estate.An enhanced life estate gives the life tenant the power to sell and mortgage the property. A conventional life estate grants only the use and possession for life. However, enhanced life estates are not available in every jurisdiction. Florida is one where enhanced life estates are recognized. You should discuss it with an attorney who specializes in real estate.
Can a person who only has the right to the exclusive possession use and enjoyment of property sell the property?
You seem to be describing a life estate. The holder of a life estate in real property cannot sell the property because they don't own it. They can transfer their life interest to another person but it would still end upon the death of the original holder. The exception is states that allow "Enhanced Life Estates". Florida is one example. The owner of an enhanced life estate can sell the property.
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.
Where can someone quickly sell their home?
One can quickly sell their home to an estate agent. However, an estate agent will offer one less money knowing the person is looking to sell it quickly. One can also post on Craigslist to sell their home quickly.
Where do you sell your flowers on ToonTown?
First you go to your estate then you pick your flowers that you want to sell, and go over to the Wheelbarrow in your estate, and you can sell them from there. The wheelbarrow is near one of your six houses.
If you are given a life estate and you need to sell it and you are entitled to a third of the profit can you reimburse yourself from the estate all of your expenses while you lived there?
A life estate is not an inheritance as such as you are merely permitted to use it for the rest of your life and have no ownership to it if you decide to give up your rights to the life estate and the respective heirs to it decide to sell it then you are entitled to receive one third of any profits gained from the sale and may not reimburse yourself of any costs you incurred whilst you were permitted to live there as it has never ben owned or part owned by you.
Which real estate companies sell land?
There are numerous real estate companies that sell land to potential buyers. One can buy land from companies such as 'Homes & Land', 'Kaiser Real Estate' and 'Harcourts'.
Is there life rights on real estate?
There may be a life estate if the owner granted one to someone by deed or by their will.
If you're licensed to sell real estate in one state, can you practice in other states?
No, you cannot sell real estate in a state you are not licensed in. Each state has their own laws and guidelines for selling real estate.
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 the format of a life estate deed?
The form is one that conveys the property to A, but reserves a life estate to B:I hereby convey my farm to my sons but I hereby reserve to myself a life estate.
