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Recent Life Estate questions

My sister filed 7 bankruptcy a few months ago. I live in my

My sister filed for Chapter 7 bankruptcy a few months ago. I live in my father's old home. He left me a life estate allowing me to live in the house for life, and upon my death or decision to move, it would revert to my sister's and my brother's heirs.Last week I received a letter from a lawyer who is trying to separate her interest in the house and is threatening to put it up for sale, in order to collect on her debts. Can they legally do this and do we have options other than coming up with the money they are looking for. I am on a very fixed income and could very well end up losing my home if this happens.

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Roger

Litigation Attorney

Doctoral Degree

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Can a person who has a life estate sell the property and

Can a person who has a life estate sell the property and keep 100% of the proceeds? My Mother In Law passed away last year, and her second husband had a Life Estate in the condo. He has been placed in an assisted living facility and we now hear that he has sold the property? Can he keep 100% of the proceeds?

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LegalKnowledge

Juris Doctor

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Daughter is building a home, her parents, aged 75 and 80.

Daughter is building a home for us, her parents, aged 75 and 80. Can she give us a lifetime/life estate to the property to avoid possible Legal ramifications later? She is in Maui and we are in Oklahoma after having moved from Maui recently. We want full responsibility as homeowners of the property, maintenance, insurance, etc. and she wants to avoid the business of probate after we are gone.What do you advise?

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Dwayne B.

Juris Doctor

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If I was Deeded a property (Deed with reservation of life

If I was Deeded a property (Deed with reservation of life estate), do I have to list it as an asset in divorce proceedings in the state of NJ

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Dwayne B.

Juris Doctor

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I have land (no buildings) that I am hoping to hold onto

I have land (no buildings) that I am hoping to hold onto for the rest of my life and then will it to the next generation. I have 4 friends who each have children. I'd like to create some kind of 'conservatorship' or ' trust' or some other vehicle (I don't understand these legal terms at all), so that I can ' will' the land to the next generation, which would mean giving it to a ' group' that is unrelated to me and unrelated to each other. There's a total of 8 children. Several are in early teens (youngest) several are already in their 20s. How might I create a way to 'will' my land to them as a group, so that the group would be able to own the land collectively and make decisions about how to use it in the future? Thank you!

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Kim Courtney

Principal Attorney

Master's Degree

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We have moved to Texas to take care of my aging in-laws.

We have moved to Texas to take care of my aging in-laws. They have an 8 acre piece of land with two houses and two trailers. They live in the main house and we are going to buy the back 7 acres which include the other house and two trailers. We have an agreement to pay $1200/month to them until the property is transferred to us at the time of their death. We have an agreement from the other siblings that if we moved here to take care of them that the 7 acres, house and two trailers would be ours after they pass away.JA: OK. The Real Estate Lawyer will need to help you with this.Customer: So the question is how do we set up the transaction legally at the lowest expense and without creating an unnecessary tax burden for us or my father in-law?JA: Have you talked to a lawyer yet?Customer: not yetJA: Anything else you think the lawyer should know?Customer: the property is free and clear.JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.

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Dwayne B.

Juris Doctor

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34,738 satisfied customers
Will you please explain in detail the definition of the

Will you please explain in detail the definition of the following terms, and how each may be applied to a individuals case etc...(any information or guidance will be greatly appreciated)...RE: Subject of matter is all in direct cause for elderly 79 year old woman was under under great stress from terminally ill daughter who later passed away, and said elderly having undiagnosed high blood pressure, at which time was lead to believe she was signing her last will and testament to give her same daughter 20 acres to build a barn on, and after death of said daughter finds out husband of same daughter had land deeds recorded in public record and said deeds were allegedly signed by said elderly woman tranfering all 144 acres and homestead to same daughter, her husband and granddaughter whom resided at that time in the home of same daughter and husband, leaving only a life estate for elderly's self not even rights to elderly's own timber, and elderly woman was not then aware of transfer by means of deeds because she was told she was signing her last will and testament and was not offered any money or anything of same for equal value and same parties refuse to reverse fraudulent transfer of elderly's property and still has not offered any money for her life's work etc...1. Confidential relationship2. Un-due influence3. Lack of consideration4. Fiduciary relationship

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Ray

Lawyer

Doctoral Degree

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I deeded my home to my daughter. my sister in law is on deed

I deeded my home to my daughter. my sister in law is on deed and mortgage. if my name is ***** ***** mortgage, but not the deed, and I have financial problems can I be evicted. doesn't the bank get notified if the deed was transferred. they want to evict me.JA: Real Estate issues can be tricky and expensive. The Real Estate Lawyer will need to help you with this. Have you talked to a lawyer yet?Customer: yes and he told me not to sign the quit claim over to anyone.i was trying to quit claim it to my daughter. sister in law is on deed and mortgage. if my name is ***** ***** mortgage, and the mortgage we got was because I was the largest bread winner what would the bank say?JA: What advice did they give you? Anything else you think the lawyer should know?Customer: How would the bank react that my sister in law who makes far less than meJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.

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Dwayne B.

Juris Doctor

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34,738 satisfied customers
I received a citation building appearance nuisance charging

I received a citation for a building appearance nuisance charging misdemeanor on my mother's home that she owns a life estate. Can they really charge me with a misdemeanor?JA: What state is this in? And can you tell me a little more about the charge?Customer: mnJA: Have you talked to a lawyer yet?Customer: noJA: Anything else you think the lawyer should know?Customer: The home is in my name but she has a life estate on the propertyJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and then connect you two.

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legalgems

Juris Doctorate

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