Hi, my grandfather passed & his land was deeded to me (trustee deed)with my uncle retaining an undivided one half interest in the form of a life estate in the property with me being the remainderen. We have shared 50-50 on the farm income for six years now. My uncle lives in Ky and left me to manage the property in Ill. I have executed 3 leases over the years to tenant farmers and he has accepted his share of the income although he has never participated in the negotiations or signed the leases. He has never questioned my decisions on who to rent to or at what price. Recently I decided to sell off part of the farm (subject to his life estate). He is very unhappy and has vowed to make it hard for anyone purchasing the property. He called my buyer and threatned to complicate anything he could with lawsuits. My question is who is responsible for determining a fair rent for the tenant when I own the ground but he has a life estate in an undivided half of it? the current rent is reasonably.
State/Country relating to question: Illinois
can he halt the sale of my interest? he claims since he didnt sign the lease with the tenants that it is void. he did cash his check for his share but there is one more year left on the lease and he wants to raise the rent now. the rent is comparable to other ground in the area. do i have any recourse if he threatens and scares off my buyers?
The property belongs to you alone. His life estate is not an ownership interest in the property - it is a lien on the property.
You can sell or lease the property with or without his consent SO LONG AS you include his life estate as a condition on the transaction. You can't exclude his interest.
I understand that but when I rent the rest of the ground out who determines what the rent will be? as he is entitled to half the rent can he demand that i ask for a higher rent?
You determine the rent because you're the landowner. Also, he doesn't have a right to receive any of the rent unless you give it to him.
So long as you preserve his right as a life tenant, he can't do anything legally.
It is possible that if you had a falling out, he could move to the property and interrupt a leasing tenant's use of the property.
I am the owner but he has a life estate in an undivided half of the farm ground so he is entitled to half of the income for his lifetime. I am the remainderen and will take full clear title after his passing. I am selling part of the ground subject to his life estate and will rent the rest of it out although he wants me to raise the rent on our tenants and i feel it is adequat at the current level. can he force me to raise the rent? thank you for your advice
You can't sell any property he has a life estate on without his consent - unless the new owner is going to honor the life estate.
He can't force you to raise the rent.
BV Rated by Martindale-Hubbell; SuperLawyer rating by West
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).