Law & Legal Issues
Estates
Deeds and Ownership

Who is entitled to proceeds if all life estate heirs agree to sell property?

Answer

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Wiki User
February 03, 2018 4:33PM

If the life estate holders agree to allow the property to be sold then they mush sign the deed and by doing that they will relinquish their life estates. The proceeds from the sale will go to the remaindermen who own the fee interest in the property. In order to encourage the life estate holders to relinquish their life interest the remaindermen may offer a part of the proceeds as an incentive.

You should seek the advice of an attorney who can review your situation and explain the options.

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Wiki User
June 18, 2007 3:07AM

Life estate heirs can only sell their life estates, not the reversion interest.