0
What else can I help you with?
What has the author James C Munch written?
James C. Munch has written: 'Life insurance in estate planning (Little, Brown estate series)' 'Life insurance in estate planning' -- subject(s): Estate planning, Law and legislation, Life Insurance, Taxation
When are lifetime rights relinquished in an estate?
A life estate is extinguished when the life tenant dies or releases their life estate by a written instrument recorded in the land records to clear the title.
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.
Life estate put in more then one name can home be sold?
A property that is encumbered by two life estate cannot be sold or refinanced without the written consent of the life estate holders.
Can a person you sign the deed in a life estate sell the property while you are sill living on the in the house?
If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.
Can the executor sell sisters life estate with no insurance on house or needs repairs?
An executor cannot sell the life estate. If the sister was given a life estate she has the right to the use and possession of the property for life. The property cannot be sold without her written consent.
Can I be removed from a life estate premises?
If you own the life estate it can only be extinguished with your written consent. If you are not the owner then the fee owners may have you removed. It depends on the details of your legal standing to be there.
Can a life estate interest be sold?
A life estate is canceled by the death of the life estate holder or by a written instrument signed by the holder that surrenders their rights in the property. In Massachusetts the life estate holder signs a deed to release their rights. In cases where the original grant contained reversionary language and the conditions have been violated the life estate would be extinguished. In that case a written notice to that effect would need to be recorded to clear the title to the property. If a reversionary clause is used in the grant you should also set forth in the grant how the life estate will be terminated if the conditions are violated.
Can someone other then the life estate holder take a mortgage out on the property without the life estate holders permission?
No. Only the fee owners can mortgage the property and they can only do so with the written consent of the life tenant.
Can a remainder interest owner be held responsible for paying a mortgage?
If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.
What kind of estate establishes the ownership of property for only the life of the owner?
A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.A Life Estate provides the right to the use and sole possession of real estate for the life of the life tenant.
What if a person does not want a life estate anymore?
The life tenant can execute a notarized, written release stating clearly the purpose is to release all rights in the life estate. Then the release must be recorded in the land records to clear the title to the property.The life tenant can execute a notarized, written release stating clearly the purpose is to release all rights in the life estate. Then the release must be recorded in the land records to clear the title to the property.The life tenant can execute a notarized, written release stating clearly the purpose is to release all rights in the life estate. Then the release must be recorded in the land records to clear the title to the property.The life tenant can execute a notarized, written release stating clearly the purpose is to release all rights in the life estate. Then the release must be recorded in the land records to clear the title to the property.
