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I have an heir that is contesting the sale of the estate.

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She is trying to establish...
I have an heir that is contesting the sale of the estate. She is trying to establish her life lease survives the sale. If granted by the judge who paids the debt owing by the estate?
Submitted: 2 years ago.Category: Estate Law
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Answered in 20 minutes by:
9/8/2015
Estate Lawyer: retireddebra,
 replied 2 years ago
retireddebra
Category: Estate Law
Satisfied Customers: 102,571
Verified

What debts are you talking about?

Are you saying that the house is the only asset of the estate?

As soon as I get this information I will be able to provide you with an answer.

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Customer reply replied 2 years ago
The amount of the debt is 29000 to RBC. If I was to sell all assets I would come up with about 8000.
Estate Lawyer: retireddebra,
 replied 2 years ago

This is a very difficult situation as only the estate and not you are liable for the debt.

So if the debt is not paid off then RBC can seek to seize the house and have it sold anyway.

This will cost the estate more money as there will be foreclosing fees and on top of that the house will be sold for less.

So essentially if the judge does not order the sale no one pays the last $8000.

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Customer reply replied 2 years ago
basically my last resort is to let RBC be the trustee and they will terminate the life lease if the lease surives the sale?
Estate Lawyer: retireddebra,
 replied 2 years ago

No. That is now what I said.

Last resort, let RBC sue and seize the house and then this is out of your hands.

They may not be able to get the heir out if the heir has a life interest.

It is really a mess so it is good to have a court decide in a case like this.

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Customer reply replied 2 years ago
This case is very complex . I have sheds on that property that one of other heir own. It was bought when he bought the business from his parents . The will states he as the right way to them. So if RBC takes over house , he would loose his sheds?
Estate Lawyer: retireddebra,
 replied 2 years ago

He would have to take the sheds I assume. This is sounding more and more like a law school exam question!

I am sorry you are in such a mess.

A way to settle this would be to have the person with the life estate just pay off the $8000 and then she/he would be secure.

And perhaps the other heir who needs the sheds there can pay a small part of that perhaps?

I am just trying to think of options for you but I am sure they've all be considered.

Please do let me know what happens in court.

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Customer reply replied 2 years ago
Let's put it this way the one with the life interest wants the house without any cost. The second heir wants the house to sell to get money out of it but won't get a lawyer to rep her. The third heir with the sheds would pay the debt but doesn't want the heir with the life lease have no rights to it if he pays the debt. I should with let you know it's on Oct 8.
Estate Lawyer: retireddebra,
 replied 2 years ago

The one with the life interest is essentially right in the sense that this seems to be what the deceased wanted.

And so there is no right to sell the house in almost all cases.

But if the house is going to be lost to creditors then that would be another matter.

I don't actually believe the RBC could get her out.

So in my view the most likely scenario is that the RBC registers a lien and they get paid off when she dies and she gets to live in the house until then.

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Customer reply replied 2 years ago
She is not living there. She lives in the US. It will be a summer cottage. The will states that she 100 % responsible for bills , ins and day to day living and maintance . She only as season dwelling ins on it without ins on contents. She hasn't hire a person for maintance. She came to the estate changed locks and never gave me a key to the estate, since I am the landlord. She winterized it without permission. The will states if there is money owing I would have to sell the estate to pay bills and divide the money between the first two heirs, I mention earlier.
Estate Lawyer: retireddebra,
 replied 2 years ago

That is a very different set of facts now, and she clearly cannot keep the cottage and not pay anything and it sounds like you have the right to sell it so now I do not see how she will succeed.

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Customer reply replied 2 years ago
Thank you now I feel better about this situation . I was so confused where this was going. So how do I get back to you and tell you the verdict ?
Estate Lawyer: retireddebra,
 replied 2 years ago

Just reply back to this post. It won't lock.

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retireddebra
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Satisfied Customers: 102,571
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