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Who has a right to mineral interest in a life estate in Texas where there is no will?
Wiki User
∙ 14y ago
Depends on how it is written in the deed or if you are referring to a deed at all, are you referring to a trust?
Wiki User
∙ 14y ago
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Life estate does your spouse have interest in it?
A life estate is based on a specific person's life. If they are not named in the life estate, they have no interest. They can claim the right to use the life estate as long as the individual is still living.
What is a mineral servitude?
Mineral Servitude is the right conveyed by the landowner to produce minerals by another. In Louisiana, the owner of land generally owns only the right to produce minerals underneath the land. Under common law, the minerals may be severed from the surface land, if the mineral estate has not been severe. The owner may create separate surface and mineral estates. A principal difference is that the mineral servitude will be extinguished, through liberative prescription, after ten years of non-use, whereas a mineral estate is a (perpetual) estate in land.
An interest given to persons ascertained and in existence who will have immediate right to the land interest upon the expiration of the prior freehold estate?
remainder
Does life estate automatically bequeath mineral rights to real estate?
No. A life estate includes the right the use and possession of the property for life. Only the fee owner can sell the property or rights therein.
Can a grantee of a life estate serve an eviction?
No, a grantee of a life estate cannot serve an eviction notice to the holder of the remainder interest because they do not own the property in full. The holder of the remainder interest has a legal right to inherit the property after the life estate ends.
Is a life estate a freehold estate or a less than freehold estate?
A freehold estate is a right of title characterized by two features: it is an interest in land and the interest is not of a fixed duration.In the United States a life estate is a freehold estatealthough the ownership is of a limited duration. That duration can be measured by the life of the life tenant or of another person. When the measured life ends the life estate expires.A life estate in England and Wales does not create a freehold estate.
In West Virginia does the owner of a property's mineral right have to notify the property owner before he sales them?
If the mineral rights have been severed from the property and the owner of the mineral rights does not own the property then there is no need to notify the property owner. It's possible to own the mineral rights and not own the property. That would be called the "mineral estate". The owner of the property if different than the mineral owner would be the owner of the "property estate". Being the "mineral estate" owner gives you the same rights as being a "property owner". You can do as you wish with your mineral interests. Only time there is a need to notify the property owner is if any leasing will be going on. Hope this helps.
How can you release your interest in an enhanced life estate?
If you conveyed your property and retained an enhanced life estate you could release your interest in the property by executing another deed to the grantee that releases all your right, title and interest in the property, including the life estate you reserved in your prior deed. That deed should be drafted by an attorney who specializes in real estate in your jurisdiction and recorded in the land records. Any deed that conveys an interest in real property should be drafted by a professional.
In a life estate does the remainder man inherit the property?
The remainderman can sell their interest as a remainderman in the property subject to the life estate. The life tenant has the right to the use and possession of the property for life.
What is the difference between right and interest in a property?
One AnswerAn interest in property means that you have a legal or equitable claim or right in property. A right in property is a legally enforceable claim. Used by themselves those legal terms are sometimes interchangeable.For example, a fee interest in property means you own it absolutely. You also own all the appurtenant rights that pass with the property such as easement rights. You can sell the property, devise it by your will or your heirs will inherit it when you die.A life estate is an interest in real estate that provides its owner with the right to the use and possession of the property for life. The life estate is extinguished upon your death. There is nothing left for your heirs to inherit.An easement right gives you a legally enforceable right to make a certain use of another person's property.
Is tax payable on interest on a bank account opened by the executor of a will in order to deal with the estate?
Yes! Income in respect of a decedent must be included in the income of one of the following: * The decedent's estate, if the estate receives it; * The beneficiary, if the right to income is passed directly to the beneficiary and the beneficiary receives it; or * Any person to whom the estate properly distributes the right to receive it.
Trust Attorneys: Granting Future Interests?
Writing estates can be a complex business. With just one single term missing or ambiguous, an entire will can fall to pieces. It is incredibly important for attorneys to be clear and precise in their writing, so the meanings of the documents they create are clearly communicated to clients. This article will discuss the various interests an attorney may choose to grant, while planning an estate or writing a legal will. A future interest can follow an estate that ends naturally, such as a fee tail, life estate, or term of years. A future interest that follows an estate that ends naturally is called a reversion. Trust attorneys typically insert reversions into many types of possessory estates, such as a term of years or life estate. A possibility of reverter is another type of future interest that can follow an estate. A possibility of reverter sometimes will follow a determinable estate. This type of future interest does not interrupt a determinable estate, but rather depends upon the occurrence of the event. Often, a future interest that follows a determinable estate will be speculative. In contrast, a reversion that follows an estate is not speculative. Future interests can also follow estates which are subject to a condition subsequent. The name for this type of future interest is a right of entry. A right of entry requires that some sort of action be taken to enforce a right to enter into possession of an estate. If the grantor of an estate exercises such a right, then the grantor can take the land. To sum it up, each type of possessory estate requires a specific type of future interest. For a fee simple absolute, there will never be a future interest granted by a grantor. For a fee tail, life estate, or term of years, then the future interest of reversion may be granted by the grantor. For a fee simple determinable, a possibility of reverter may be granted by a grantor. For a fee simple subject to a condition subsequent, then a right of entry may be granted by the grantor. Overall, it is helpful to know the types of future interests that may be granted in an estate prior to meeting with an attorney. For a client, there may be one type of future interest that suits someone’s needs better than another kind. There are many benefits to knowing future interests inside and out.
