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Category: Estate Law
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what does L/E and REM mean on a deed

Resolved Question:

what does L/E and REM mean on a deed
Submitted: 3 years ago.
Category: Estate Law
Expert:  Roger replied 3 years ago.

Hi - I practice in Tennessee.

 

L/E means a person has a Life Estate. A life estate means that a person has the right to occupy property until his/her death: http://en.wikipedia.org/wiki/Life_estate

 

REM means that there's a Remainderman. A remainderman is a person who inherits an interest in property or an estate once the ownership of the former owner expires: http://en.wikipedia.org/wiki/Remainderman

Customer: replied 3 years ago.
So as long as the person on the deed is still alive the person after the L/E can not sell or transfer the property. If you have a power of attorney are you able to?
Expert:  Roger replied 3 years ago.

That's right. The remainderman doesn't have a right to sell the property UNLESS the life estate owner agrees to the sale or transfer as well.

 

The power of attorney can do anything that the person himself/herself can do. Thus, the POA could sell on behalf of the owner so long as it is in the person's best interest. If the POA does something against the interest of the person, it is a breach of fiduciary duty.

Roger, Attorney
Category: Estate Law
Satisfied Customers: 26697
Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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