2 sisters are remaindermen,brother has life estate. would life estate holder be re-imbursed for anything which he is responsible for under life estate such as taxes,upkeep and maintenence at sale by partition?
house was inheritated by the 3 siblings,brother chose to have a life estate because he was running from bill collectors,thought he could avoid a lein on house by having a life estate.no trust or will involved. all the deed says is: " subject to and reserving a life estate in favor of ( NAME) ,son of decedent and tenant in posession"
From what you state, it sounds like your brother's life estate is not a concurrent interest with the remaindermen so there isn't anything to partition. He could sell his life estate to anyone, including the remaindermen, but unless the purhaser has a remainder interest they want to consolidate, there probably isn't much value to the life estate. You need to sit down which an attorney who can review the documents before giving advise particularto your situation.
On what basis is the partition being sought? Was this through a trust? If the sisters are doing it, they may be challenging the trust or the Will.
The life estate holder has the right to occupy the property for life.
What are you doing and why?
You really need to sit down with an attorney.
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