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You do not have to occupy the property. You can lease it to someone else if you wish.
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∙ 8y ago
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What are the rights of the property owner who gives their mother a life estate to live in the house as long as lives but now she can no longer live there?
You need to draft a release of the life estate and ask your mother to sign it. Only she can release the life estate to clear the title.
What happens if the house burns down and you live there under the life estate law?
If the house burns down while you live there under a life estate, you would typically still have the right to live in the property for the duration of your life estate. However, any insurance proceeds or rebuilding of the house would likely be determined by the terms of the life estate agreement and the ownership of the property.
Do you have to live in the house you have a lifetime estate to?
No, you do not need to live in the house to have a lifetime estate, but you typically retain the right to live in the house if you choose to do so. A lifetime estate grants you the right to use and enjoy the property during your lifetime.
When a parent conveys their property to a child but reserves the right to live in the house for the remainder of their life what is that right called?
The parent has retained a life estate in the property.
Can your siblings just choose to live in the house of a deceased parent if the house is empty and the estate is trying to sell it?
Legally, they cannot live in the house without the consent of the executor of the estate.
What happens if the person cannot live in the house that she has a life estate to does she give up her right to live their?
To answer this question there are many other factors that need to be given. sample: Is the paid off, are there others on the listed estate or is it given to her.
Does the person who receives the life estate have to maintain the house and property named in life estate?
Generally, yes.
You care for your mother the past 3 years she has a life estate on the house you live in and wants to remove it turning the house over to us is that possible?
It depends on who gets the property after her life estate terminates. If the property was deeded to the children with life estate reserved for mom, then all she would need to do is transfer the life estate to the children as well. However, a life estate can also mean the property reverts to some other ownership, say, a charity or some other relatives. If the person who granted the deed with the life estate is still alive, perhaps a new deed can be created that will supersede the earlier one. Ask your real estate lawyer.
What Life estate is measured by the life of a person other than the life tenant?
In NC if the life estate person moves out does that break the life estate so the remainder of the owners can sell the the house and land
Does executor of estate have right to live in house that is being sold in the estate?
They can live in the home if it is to the best interests of the estate. They need to pay the appropriate rent in the process.
Can a life estate holder sell off assets in home?
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.
Can a new deed be issued on a life estate because the life tenant is no longer able bodied to live in the house anymore?
No. Deeds are not "issued". Once a life estate is granted by deed the grantee is the only person who can release it unless there was language in the original grant that limited it. You need to get a deed from the owner of the life estate in order to clear the title to the property. Otherwise, the life estate will not be extinguished until their death.
