Expert: Dick Dennis - 12/26/2009

Question
I am a life tenant. My 2 sons will inherit my home when I die. But, now, I would like to sell my home and move closer to one of my sons. Can I sell my home? Or do they (my sons) have to sell my home? I will need the proceeds from the sale of the home to buy something where I intend to live. I'm confused as to how this all works. I would appreciate any help you could give me. Thanks in advance.

Arlene  

Answer
A life tenant is the same as life estate, Arlene. This you probably know already. Some time in the past maybe your husband, who may have owned the property in his name only, perhaps deeded the house to your son(s) but reserved a life estate (life tenant) interest for you. That means for as long as you live, you may live there and do as you wish with the property provided you do not create waste on the property (do damage).

If you would look at the county records, you may find that you do not have title to the house. As I said above, you have a life estate. No one can take that away from you, but you could give a life estate to someone else (you may deed what interest you have in the property). You cannot deed any more interest in the property than which you have yourself.

Therefore, you cannot sell the house. To make sure this is correct, you should check with the county records to see who has title to your property. If it turns out that you do have title to the house, then you may indeed sell it and use the money from it as you please.

To verify what I say here, you should consult with a REAL ESTATE attorney. That person would check the title of the house. Or you might be able to find out from asking someone at a title company. They always have access to that kind of information. I do wish you well, Arlene.

Dick Dennis
dixiedee13@aol.com
Visit my blog: Therealestateanswerguy.blogspot.com