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If you sell your father's house do you have to give money to his girlfriend who has a life estate in the house?
You will not legally be able to sell the property if the girlfriend has a life interest unless you have her consent. She will expect some compensation, that needs to be negotiated with the estate. For example, the sale proceeds could be used to provide another property for her to live in during her lifetime. I would like to add this: It is true that the girlfriend will have to consent to the sale and even sign the contract for sale of the house and deed. Therefore, she will have to be satisfied with the price you're getting for the house as well as her share from the very beginning. In fact, if she were so inclined, she could just refuse to sell. How much do you have to give her? The value of a life estate is determined by using what are called "mortality tables". These tables calculate the expected lifetime of the girlfriend in order to get an idea of the value of her life estate expressed in terms of a percentage of the value of the property. As an example, the life expectancy of a 20 year old person is longer than the life expectancy of an 80 year old person. For this reason the value of the life estate of the 20 year old is greater than the value of the life estate for the 80 year old. These tables exist for tax purposes mainly and the girlfriend is free to hold out for a bigger cut. That's where the negotiation mentioned above comes in. Usually in these situations, the life tenant just takes a percentage of the net sale proceeds and goes.
Who is responsible 3 year old repo debt when debtor dies?
The estate of the debtor is responsible. If there are not enough assets in the estate, it goes unpaid.
Is there a second life for 11 year old?
the second life of 11 year old boy is in his mind.
Which estate was dissatisfied with life under the old regime?
The upper-crust of the THIRD ESTATE was extremely dissatisfied with Ancien Regime in Pre-Revolution France.
Can a 17 year old take real estate classes?
Yes its totally depend on your skills.
What year did the fifth estate start?
The Fifth Estate band formed in 1963 as The D-Men, but changed their name to The Fifth Estate in 1965. Ding-Dong, the Witch is Dead. Which old which, the wicked witch . . .
Can a 16 year old girl move out with her 17 year old boyfriend and go live at his boyfriend's sister house?
You would have to ask the estate agents or the police for imformation
Is it worth it to fix the ac in a 12 year old Honda Civic?
no it is too old
How much is a bluefield single shot 12 ga shotgun worth?
this gun is at an estate auction. so it is probably pretty old.
How much is a 3 year old blackberry bold worth?
its worth £50 i am selling one
How much is 18 year old rum worth?
$200
What is the average net worth of a 65 year old?
200000
