Myself an two other siblings were put on my dads deed on a life estate. I have bought out all of his life estate before he passed in September of 2018. I have had the property appraised in 2016. The house is condemd since then by the county assessor because of termite damage. Before it was condemd the appraiser set it at $3500.00. There is a large storage building on the same deed that appraised for $4000.00. I offered the siblings $5000.00 a piece for their portions an they did not respond. I was my dads POA before he passed but was told that it’s not valid since he passed. My siblings just don’t want me having the place just for spite. So I need to no if the POA is valid an how I can go about getting the hole property so I can bulldoze the house down an build a house in place of it.
Your question is unclear--what do you mean, you bought out all the life estate? If you are asking about a partition action, you must have talked with an attorney already. A partition means the court determines real estate is incapable of being divided into portions for the people entitled to the property, so it is sold and then the funds divided.
A Power of Attorney is invalid once the grantor dies. You do not say if your father's estate has been probated or what else has gone on, but you should see an attorney in your area without delay so you can have all the information with which to go forward.
Best of luck.
The foregoing is general information only, and this communication does not create an attorney-client relationship. Always conduct a detailed, in-depth, in-person consultation with an attorney before deciding on a legal course of action, since meaningful legal advice has to take into account considerable factors that have not been disclosed or discussed.
First, you need a lawyer to review the deed to see what you actually own now. If you only bought parts of your father's retained life interest in the property, those would likely have terminated upon his death, leaving you only with any remainder interest you had already been granted. So you need to know what you and your siblings actually own in terms of nature and duration of property interests.
Partition would be a legal proceeding to force your co-owners either to buy you out, you buy them out, or sell the property to a third party and divide the proceeds among co-owners. This can be done from within a probate proceeding, which may or may not be needed. Have a lawyer look at the deed. Partition sales can be done by auction or by private sale, depending on the agreement of the parties or a court decree, if the parties won't agree.
Powers of Attorney terminate upon the death of the principal (the person who gave power of attorney) -- the agent (called an attorney-in-fact) would cease to have authority to act under the power when he died. So you can't use the POA at this point.
My comments here are offered for general information only, not as legal advice on any specific situation nor an interpretation of any particular law, and my comments are not offered as, nor intended to create, nor do they create, an attorney-client relationship.
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