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Life Estate Questions

What is a life estate?

A life estate is a kind of estate that is used to designate the ownership of real estate property during an individual’s lifetime. The estate ceases to exist once its creator dies. The creator or owner of such an estate is called a life tenant. The owner of the estate may use the property that is placed in it for his/her own benefit and also have a right to earn an income by either giving the property on rent or using it for other purposes.

Can a life estate be terminated before the creator’s death?

In many cases, it can be possible to terminate an individual’s life estate before their death if there was adverse possession of the property or if the creator of the estate transfers it to the remainderman.

In which states of the United States are enhanced life estate deeds accepted?

There are only a select few states where enhanced life estate deeds are accepted. These states include Florida, Texas, Ohio, California and Kansas.

Can the owner of property in a life estate rent this property out?

In many cases, an owner of property that is also a part of a life estate may have the right to rent out the property to another individual.

Can the owner of a life estate sell property that is placed in the estate?

The owner of a life estate may be able to sell off property that is placed in it without taking consent from the remainderman.

Is it possible to reverse a life estate agreement in court?

It may be possible to reverse a life estate agreement in court if it is proved that the tenant of the real property is causing permanent damage to the property through their actions leading to a reduction in the value of the property to the owner or the person who may inherit it in the future.

Can the creator of a life estate give up their ownership over the estate?

The creator of an estate may be able to give up their ownership over it. In such a situation, 100% ownership of the property would be transferred to the residual owners.

How can an individual take over a life estate if the owner dies?

A life estate no longer exists if the creator dies. The individual who wants to take over the property may file an affidavit of death of life estate owner in the real property records of the city or county where the property is located. He/she may also have to submit a copy of the owner’s death certificate along with the affidavit.

Many people may put their properties in life estates in order to handle them better. It may sometimes get difficult to understand how life estates work and how the property gets transferred to the individual’s descendants. In some situations, people who create the estate may also want to revoke it and may not know how to go about doing so. In such situations, asking an Expert for the answers on life estates and the different aspects of handling them can be helpful.

Ask an Estate Lawyer

Thomas McJD
Thomas McJD, Attorney
Category: General
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
19305272
Type Your Estate Law Question Here...
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2 Estate Lawyers are Online Now

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Estate Lawyers are online & ready to help you now

Thomas McJD
Attorney
Satisfied Customers: 3076
Wills, Trusts, Probate & other Estate Matters
Infolawyer
Attorney
Satisfied Customers: 3781
Licensed attorney helping individuals and businesses.
Barrister
Attorney
Satisfied Customers: 2188
13 yrs estate law, real estate. Wills/Trusts/Probate

Recent Life Estate Questions

  • my mom and dad are divorced. the property they own is split

    my mom and dad are divorced. the property they own is split 50/50. my dad re married and has recently passed away. my dad left a living trust for his new wife that states she can sell,rent out and collect any revenue that that property generates. my question is, can his new wife do as the living trust states without contacting my mother who still owns 50% of that property? thank you. only in hawaii
  • As a married man, am I able to purchase a home with my same

    As a married man, am I able to purchase a home with my same sex partner and leave this asset for him verses my wife, should anything happen to me? I plan on having he and I on the deed.
  • I put my mom in a private nursing facility to work overseas

    I put my mom in a private nursing facility to work overseas for a year. I chose the facility because they promised me I would be able to Skype my mom. I bought two smart tvs and set them up. IT opened a ticket and it wasn't set up when I left for China though I was promised it would be. months later it has not been set up and now they say they can not provide it. I also have concerns about my mom being taken out and participating in activities. Can I sue to get my money back on tvs purchased based on their unkept promise?
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