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Yes, but the value is very difficult to determine and most people don't like the risk associated with that right. Unless you are selling it to the remainderman in which your biggest difficult will be in determining value.
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Can a remaindermen sell life estate property in South Carolina?
A person with a remainder interest can sell their interest. However, the property remains subject to the life estate until the life tenant dies or releases their life estate in writing.
In a life estate does the remainder man inherit the property?
The remainderman can sell their interest as a remainderman in the property subject to the life estate. The life tenant has the right to the use and possession of the property for life.
Can you sell your interest in a house that is lived in by a person covered under a life estate?
I bet you can, as long as the buyer understands that "your interest" includes the honoring of the life estate. You can sell what's yours, and not what isn't, obviously.
Who is entitled to proceeds if all life estate heirs agree to sell property?
If the life estate holders agree to allow the property to be sold then they mush sign the deed and by doing that they will relinquish their life estates. The proceeds from the sale will go to the remaindermen who own the fee interest in the property. In order to encourage the life estate holders to relinquish their life interest the remaindermen may offer a part of the proceeds as an incentive.You should seek the advice of an attorney who can review your situation and explain the options.
Life estate does your spouse have interest in it?
A life estate is based on a specific person's life. If they are not named in the life estate, they have no interest. They can claim the right to use the life estate as long as the individual is still living.
Must a parent with lifetime rights sign sale contract?
You mean a contract to sell a property in which the parent has a life estate? No. If the children want to sell their future interest in the property, it is separate from the rights of the parent with a life estate. Similarly, the children do not need to be asked if the the parent wants to sell (or mortgage) his or her life estate to someone else. On the other hand, if the buyers want clear title, with no life estate, then you have a different problem: terminating the life estate, by merging it with the future estate, and what's in it for you?
Does a life estate have to be recorded?
In most cases, it is recommended to record a life estate to give legal notice to interested parties. Recording a life estate can help ensure that ownership rights are clear and protect the interests of both the life tenant and the remainderman.
Can a life estate owner sell the property in Florida?
In the case of a conventional life estate the life estate holder and the remainderman must both execute the deed if they agree to sell the property. See related question link.
Can one sell life estate in Ireland?
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.
Is a life estate a freehold estate or a less than freehold estate?
A freehold estate is a right of title characterized by two features: it is an interest in land and the interest is not of a fixed duration.In the United States a life estate is a freehold estatealthough the ownership is of a limited duration. That duration can be measured by the life of the life tenant or of another person. When the measured life ends the life estate expires.A life estate in England and Wales does not create a freehold 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 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.
