Can give my nephew my house when I die if I want the person living with me to be able to reside in the property for their lifetime?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can give my nephew my house when I die if I want the person living with me to be able to reside in the property for their lifetime?
Is this legal?
Asked on May 19, 2014 under Estate Planning, Maryland
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
Yes it is quite legal. What you wish to do is see an attorney about drawing up a Will that leaves the person living with you a "life estate" in the property which will allow them to live in the property until they die and giving your nephew the property when the life estate tenant passes. Your nephew will be known as the "remainderman." Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.