What to do regarding a life estate and trasnfer of property?
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What to do regarding a life estate and trasnfer of property?
My sister deeded her house over to me. She will live in it until death and I have in my Will that if I die before her, the house is to revert back to her if she is still alive. I just want to know if I covered all the bases by recording all this at the courthouse or if I have to have additional papers?
Asked on October 25, 2017 under Estate Planning, Ohio
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
So you are doing some estate planning and that is great! But it is best to seek help in person - even on a consultation basis - from an attorney in your area. First, does the deed state she has a life estate? Becuase if the deed does not then you just outright own the house. If you put in the Will when you die it "reverts back" I think it will be interprested to mean that if you die before her she gets that asset. Please have someone look at the documents. Good luck.
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