People also ask
How do I create or terminate a life estate?
If you wish to create or terminate a life estate, you should consult with an experienced local estate lawyer. As you can see, state laws can vary widely in terms of how a life estate may be governed. Because of this, someone local to you will best understand your state laws regarding the matter and how those laws may affect your legal options.
What happens to a life estate when the owner dies?
Life estates allow the holder to use and possess the property during their lifetime. Accordingly, life estates will generally terminate upon the death of the life tenant. Once this happens, the property may revert to the original grantor if they are still alive, or it will pass to their estate.
Can I remove my name from a life estate deed?
When a person with a life estate dies, removing his or her name from the life estate deed can be a complex and complicated procedure. Nevertheless, it is undeniable to have a clear title to the estate.
Do I need an attorney to terminate a life estate?
An experienced attorney can help you legally create and/or terminate a life estate, as well as represent you in court, as needed. Alternatively, if you are the recipient of a life estate, an attorney can represent you should any disputes arise.