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Can a property management company tell the tenant that they are the owners in fee of a property if they are not the fee owners?
There is nothing to prevent a property management company from lying about the ownership of the property, as long as that does not contribute to a fraud. It is not uncommon for a fee owner of rental properties to hire a property manager and grant it power to represent the owner and manage the property. That may lead to misunderstanding as to who is the owner.However, the identity of the fee owner is easy to determine. You can research the fee owners in the local land records and at the town assessors office.If you think a misrepresentation has harmed you then you should call or visit your local landlord-tenant agency or consult with an attorney.
Can an owner of a life estate in Kentucky take out a mortgage on their property?
No. The life tenant no longer owns the property. The signature of the fee owners would be required as well as the signature of the life tenant.No. The life tenant no longer owns the property. The signature of the fee owners would be required as well as the signature of the life tenant.No. The life tenant no longer owns the property. The signature of the fee owners would be required as well as the signature of the life tenant.No. The life tenant no longer owns the property. The signature of the fee owners would be required as well as the signature of the life tenant.
Type of ownership of real property that grants owners the fullest bundle of legal rights one can hold in real property?
Fee simple absolute.
Who can live in house after life estate?
After a life estate has been extinguished the fee owners, sometimes called remainders, have the right to the use and possession of the property.After a life estate has been extinguished the fee owners, sometimes called remainders, have the right to the use and possession of the property.After a life estate has been extinguished the fee owners, sometimes called remainders, have the right to the use and possession of the property.After a life estate has been extinguished the fee owners, sometimes called remainders, have the right to the use and possession of the property.
I have a life estate can I get a reverse mortgage on this property?
You may be able to get a reverse mortgage with the written consent of the fee owners. However, the lender may require the property be transferred to your name alone.
What are some responsibilities that property buyers should carry out?
Property buyers should carry out responsibilities such as paying the title premium, notary fee's and home owners transfer fee's. Other responsibilities include inspecting the septic systems and making sure smoke detectors are in place.
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.
What happens to life estate in the mineral rights at that person's death?
The life estate expires when the life estate owner does and the mineral rights revert to the property owners in fee.
If i take a car without permission and the police tow it do the owners have to pay the fee?
If you take a car without permission and the police tow it the owners do have to pay the fee for the wrecker service and the impound fee.
Who gets proceeds of sale when Life use property is sold?
If the life tenant is deceased the proceeds go to the "remainderpersons" who are the fee owners of the property. The life estate was created in some legal document such as a will or a deed. That document should identify the "remainderpersons".
What is a life estate owner?
A life estate holder has the right to the use and possession of real property for the duration of their natural life. They do not own the property but the property cannot be mortgaged or sold by the fee owners without the consent of the life estate holder. The life estate is extinguished when the holder dies.
Can a life estate be undone?
The only way for a life estate to be "undone" is for the life tenant to sign a deed releasing their rights in the property to the fee owners. The deed must be recorded in the land records. Otherwise, the life estate will not be extinguished until the death of the life tenant.The only way for a life estate to be "undone" is for the life tenant to sign a deed releasing their rights in the property to the fee owners. The deed must be recorded in the land records. Otherwise, the life estate will not be extinguished until the death of the life tenant.The only way for a life estate to be "undone" is for the life tenant to sign a deed releasing their rights in the property to the fee owners. The deed must be recorded in the land records. Otherwise, the life estate will not be extinguished until the death of the life tenant.The only way for a life estate to be "undone" is for the life tenant to sign a deed releasing their rights in the property to the fee owners. The deed must be recorded in the land records. Otherwise, the life estate will not be extinguished until the death of the life tenant.
