Mom quit claimed home to kids 5 years ago, with right to live in home until her death. Now in nursing home, so have heard the lifetime estate has value. If we sell the home, how is that value calculated?
2007-08-29 05:33:11 · 2 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
From what I can gather from what you wrote...
The value was only to HER with the "lifetime" estate...
meaning she could live in the house for the rest of HER lifetime...(no one elses)....it has no REAL value to anyone but her...
Please consult with a real estate attorney before you attempt to do anything with the property...you may be unable to sell it until she dies..
2007-08-29 05:40:14 · answer #1 · answered by Toots 6 · 0⤊ 0⤋
you can not sell the property in a life estate until your mom passes away
2007-08-29 05:40:09 · answer #2 · answered by golferwhoworks 7 · 0⤊ 0⤋