life time rights
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life time rights
mother sold her home and land to her daughterthe deed states the mother has life time rightsbut is now permanetly in a nursing home.Canthis property be sold or must the propertybe left until her death
Asked on June 13, 2009 under Real Estate Law, North Carolina
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
The property can be sold subject to her Lifetime Estate rights. This could have been done for many reasons but maybe for Estate Tax planning? However, if your Mother agrees, see a Real Estate attorney about her relinquishing her Lifetime Estate now that she is in a Nursing Home. Is your Mother competent to make decisions? A buyer may see this all as a hassle so you may want to check out what is required and the tax ramifications before you put it on the market. You can look here at attorneypages.com to start.
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