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What else can I help you with?
Would life estate holder receive proceeds from sale?
From the sale of what? The property can only be sold with the permission of the life estate holder. How much they get would depends on the deal they cut with the remainderman.
If property with a life estate is sold who gets the money?
The person who owns the fee receives the proceeds from the sale. The life estate holder only has the right to use the property for life. If they relinquish their life estate the owner of the property can then sell it free and clear of the life estate.
What happens with a life estate when the property is sold while the property owner is still alive. Is it automatically revoked?
Nothing happens to the life estate. The life estate remains as long as the person who holds it is still living. Any sale is based on the existence of the life estate. However, if the life estate has not vested, as in the life estate was to be left in a will and they haven't died yet, then the life estate is void.
How much does a life tenancy sale reduce the sale price of real estate?
If a person who has life tenancy is institutionalized and never intends to live at the property that he has life tenancy does that person still have life tenancy.
What is the real estate definition for an estate sale?
An estate sale is a type of sale or auction to dispose of the majority of the materials owned by a person who is deceased or will be moving.
What companies have Hawaii real estate for sale?
There are several companies that have Hawaii real estate for sale. Some examples include the following companies: Hawaii Life, Zillow, Realtor and American Dream Realty.
Can a personal loan collect off of a life estate?
A life estate can be valued for sale and can be transferred, so it could be transferred to a creditor to satisfy a personal debt. A judgment obtained against the debtor who holds the life estate can be used to levy on the life estate and have it sold (usually at a sheriff's sale), thus satisfying the debt; assuming the value of the estate is equal or greater than the debt. The problem is the fact that upon the death of the initial life estate owner, the estate terminates and the ownership and used of the property (called the remainder) becomes the property of the remainderman. The person that acquired the life estate, either by voluntary transfer or judicial process, then no longer has the property.
Does an owners life estate hinder my forcing the sale of land?
A life estate grants the right to the USE and POSSESSION of real property for life. The holder of a life estate is not the owner of the property. Therefore, you cannot take possession of the property and sell it if you have a judgment lien only against the life estate holder. If you have a judgment lien against the owner of property that is SUBJECT TO the life estate of someone else, the property would remain subject to the life estate if you took possession and tried to sell it. You would need to find a buyer who is willing to honor the existing life estate.
Purchasing from an estate sale?
Purchasing from an estate sale can be easy. All you have to do is go in and tell them what your budget is and what you are looking for.
What is an estate sale of real estate?
An estate in this sense refers to the real estate owned by a decedent at the time of their death. The purpose of an estate sale is to sell the property of a decedent so the proceeds can be distributed to the heirs. After an owner of real estate has died, their estate must be probated so the real estate can be sold. The sale must be handled by an estate representative duly appointed by the probate court and that representative must have the proper authority to sell the property. An estate sale of real estate would be a sale of the real property owned by the decedent.
Where can I view real estate for sale in Tulsa online?
There are multiple online websites and channels that show real estate for sale. You can also locate realtors in Tulsa and check theire websites for real estate for sale.
What might be the reasons behind an estate sale?
An estate sale can be a way to get rid of a significant part of the property owned by someone who deceased. Moving can also be a reason for an estate sale. Other reasons are divorce and retirement.
