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Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 34442
Experience:  30 years of real estate practice experience.
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Is the law the same in every state? And does this change if

Customer Question

Is the law the same in every state? And does this change if the original will did not include this property? Situation is elderly mother bought house for son...son was on deed as owner but in 08 was told that he had to do a quit claim and set up a life
estate placing him as a life tenant and upon his death it would go to his mother's estate due to tax purposes... Mother died in 2011 and son is considering selling the home. His mother, in her will, set man and two of his living siblings as her heirs. If the
house is sold...since the property is not listed on her original will, do the proceeds get split 5ways (man, 2living siblings and kids of two deceased siblings) or does man get a bigger percentage due to life estate?
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Loren replied 2 years ago.
Yes, Tennessee recognizes the table and references it.
It is irrelevant for valuation how a life estate is created
What the son was told to do is unenforceable. If the property is titled to the son he can do what he wants. It is not part of the mother's estate.
Best regards.