Real Estate Law
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Hi - my name is XXXXX XXXXX I'm a Real Estate litigation attorney here to assist you.
A life estate is not an ownership interest in the property. If your father deeded you the property, you are the owner - not your father.
Thus, your father should not receive any money from the sale of the property, but he would have to sign off on the sale because of his life estate, which is essentially an easement on the property.
I think you need to ask the title company why it believes your father is entitled to any proceeds from the sale of the property you own.
Ok. Apparently, they're giving him a value for his life estate. This is unusual, but I understand what they're doing.
In this case, the best thing your dad can do is issue you another quitclaim deed for his life estate interest in the property. If he transfers this interest to you, then you'll own the property without this encumbrance (life estate) and you would be entitled to collect all of the money and not pay your dad anything.
If you can't or don't do this, your dad will have to report the income and it would interrupt his Medicaid benefits; also Medicaid undoubtedly has a lien against him and would likely make a claim for this entire amount and use it to repay expenses for his care.
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