How do you refinance a life estate property?

My husband and i live with my mother we have a life estate on our deed for her protection. In order to refinance the mortgage we have to remove it. Can we put it back on after we close.?

Probably not, check your mortgage for what can be done with the property. Lenders do not like property encumbered with life estates.

Does the owner of a life estate to a residence also have life estate to property the dwelling is on?

Unless the life estate was restricted to the dwelling only the life tenant has the right to the use of the real property for the duration of their natural life. A life estate is an interest in the real property upon which the dwelling sits. The property affected by the life estate is the premises described in the deed to the property.

Whose financial asset is the life estate the remainder or the life tenant?

Generally:The life estate is an asset of the life tenant.The property is an asset of the remainder.Generally:The life estate is an asset of the life tenant.The property is an asset of the remainder.Generally:The life estate is an asset of the life tenant.The property is an asset of the remainder.Generally:The life estate is an asset of the life tenant.The property is an asset of the remainder.

You co-signed on your sons mortgage you have your own property in a life estate can your sons mortgage company have any rights to your property that is in the life estate?

If the property in which you have a life estate is a separate and distinct property from the property your son mortgaged (and you co-signed) then the lender has no rights in your life estate property. If the property your son mortgaged is the same property in which you have a life estate then if he defaults on the mortgage and the lender takes possession you will also your life interest in the property since you also signed the mortgage.

Who pays the property taxes on life estate?

The owner of the life estate.

Can you refinance a mobile home that is consider real property if it has never been titiled?

You cannot refinance something that did not have a mortgage to begin with. A bank will not work with non titled real estate.

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.

Can a person you sign the deed in a life estate sell the property while you are sill living on the in the house?

If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.

What are the rights of a remainderman?

Yes. The remainders actually own the fee in the property. They have the right to have the property maintained in good condition by the life tenant. If the life estate holder is wasting the property the remainders can sue in court to have the life estate terminated. Upon the death of the life tenant or the release of the life estate they will have the right to full use and possession of the property.

What happens in a life estate when the son gets divorced in wi?

A life estate is a right in property. Rights in property don't go away. The name on the life estate is the person that retains the rights to the life estate.

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.

How do you buy in simple fee your life estate?

If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.