Life Estate Question...

This is a discussion on Life Estate Question... within the Wills, Trusts, Estates forum, part of the FAMILY LAW, DIVORCE, CUSTODY category; My deceased aunt left a house in equal shares to eight nieces and nephews, "subject to (one niece) having the ...

Consult Your Own Personal Lawyer Now!
Reply

 

Thread Tools Search this Thread Rate Thread Display Modes
Old May 12th, 2007, 04:20 PM   #1
Unregistered
Guest
 

Unregistered's Avatar
 
Posts: n/a

Default Life Estate Question...

My deceased aunt left a house in equal shares to eight nieces and nephews, "subject to (one niece) having the right to live at (the house) as long as she wishes". This seems to fall short of a "Life Estate" in which the recipient of the life estate can also rent out or use the property in any manner until the recipient dies. Life Estate implies ownership of the property, whereas giving the property in equal shares to a group of eight, subject to one person "having the right to live" there, seems to be in conflict with the purpose of a life estate. If a life estate were granted, wouldn't that term be specifically stated in the will?
  Reply With Quote
Old May 13th, 2007, 06:55 PM   #2
Veteran Member
 
msgny's Avatar
 
Join Date: Mar 2007
Posts: 229

Default Re: Life Estate Question...

You should get an estate lawyer to look at the whole will and its intent. Frankly that clause could be interpreted either way depending on the will.
The entire will must be reviewed.
msgny is offline   Reply With Quote
Reply

Bookmark & Share

Tags
None

This thread has 1 reply and has been viewed 485 times

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

| More

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Format Your Messages
Add Forum to Google Toolbar
Forum Jump

Similar Threads

Thread Thread Starter Forum Replies Last Post
life estate Unregistered Tax Issues 0 Mar 4th, 2008 08:09 PM
life estate Unregistered Wills, Trusts, Estates 4 Jan 7th, 2008 07:45 PM
more life estate questions theeman Landlord vs Tenant Issues 2 Nov 7th, 2007 01:52 PM
life estate problem theeman Other Real Estate Law Matters 1 Oct 23rd, 2007 07:41 PM
life estate berigan Wills, Trusts, Estates 1 Nov 10th, 2006 12:06 AM


International Law Issues?


All times are GMT -4. The time now is 04:01 PM.