Selling a home with lifelong use on an estate in trust

Ledyard, CT Viewed 33 times. Posted 6 months ago in Real Estate

Can a person with lifelong use of an estate sell the home and keep the proceeds when there are 3 dependents who are benificeries or called remainderments on the will?

Answers (1)

David C. Garner

This attorney is licensed in California. Posted 6 months ago.

Nope. The house does not belong to that person. It's called a life estate. The person in possession may use the property for life and then it passes to the remaindermen (the three dependents). The possessor of the property can take no action that defeats the residual of the remaindermen.

Can't sell it.

Related Real Estate questions

is there an encumberance on real property that is in a trust under AZ estate planning laws - If there is an encumberance on a real estate property that is in a trust and that property if then taken... more
2 answers. Chandler, AZ. Viewed 457 times. Posted about 1 year ago in Trusts

real estate, estate planning and trust law in FL state, process of purchasing real property in a revocable trust - When one is interested in purchasing a home through a revocable trust, is that... more
4 answers. Florida. Viewed 1,180 times. Posted about 1 year ago in Trusts

WA state real estate law, breach of contract home purchase and sale agreement, dispute with agent - My sister was approached by a coworker asking if she would sell her house. My sister agreed.... more
4 answers. Ilwaco, WA. Viewed 1,202 times. Posted about 1 year ago in Real Estate