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Ratings. Guidance. The Right Lawyer.
Hello, I have a question regarding a Life Estate.
Denver, CO
Viewed 64 times.
Posted 6 months ago in Estate Planning
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My grandmother had a stroke on March 1, 2009 and has survived but is restricted to a nursing home. She set up a LIfe Estate in 2002 and sold her farmstead. Recently the men who bought her property have requested that her belongings be removed out of her house so that they can move in and take possession. I have done research on the law in the state of Minnesota where the house is located to determine if state law provides for a termination of the life estate for any condition other than the death of the life tenant but have not had any luck finding an answer.
I know a conventional life estate ends when the life of the life tenant ends but what if the life tenant is incapacitated and no longer lives at the actual estate? Answers (1)
James Arthur Gorton
This attorney is licensed in California.
Posted 6 months ago.
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Generally, if a party sells real estate reserving a life estate, the life estate and the right to possess and use the real property continue for as long as the person lives, regardless of whether they have any ability to use or enjoy the real property. Therefore, your grandmother should not have to move her belongings from the house during her lifetime, even if she never returns to the house.
You should, however, review the sale agreement and the deed by which the property was conveyed to the buyers. You may find that the agreement and/or deed restricted the scope of the life estate, in which case, it may terminate upon your grandmother's failure to live in the property for a specified period of time or her inability to return to the property. You would be well advised to review the matter with an attorney in Minnesota if possible, in order to be sure that any quirks of local state law are taken into account. Please be advised that the foregoing discussion is a generalized and hypothetical answer based upon incomplete facts and is not intended to serve as legal advice to you, nor should you regard it as an attorney-client communication or as creating an attorney-client relationship. If you desire legal advice concerning the situation you have described you should contact an attorney who has substantive experience in the fields pertaining to your question. |
