Buying or Selling a Home/life estate be broken

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Question
thanks for the reply,however the question was can a life estate be broken, my husbands will devised all property to me,,,he did NOT give me the life estate, the probate court somehow did, even with a will leaving all property to me and my 11 year old,, can this get changed ?

Answer
Then you did not understand my reply, Ms Smith. A life estate is broken when the person who benefits by the life estate moves out. Period.

Since you said you cannot continue to maintain the property, you simply sell the property! That breaks the life estate if you say the probate court somehow made it. I have to admit, I have never heard of the new sole owner being also the recipient of a life estate. It makes no sense. Why would the owner of the property "give" a life estate on a property when the new owner can do what she wants with it? Perhaps you are misunderstanding the terminology. You as the owner now have the title in "fee simple." As owner in fee simple you can do what you want with the property.

I recommend you consult with a REAL ESTATE attorney to understand what I have said here and have him/her advise you how you should do it.

Again, I do wish you well.

Dick Dennis

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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