Quit Claim Deed - Life Estate Question
My mother's land is in a life estate (quit claim deed) to my sister and I. My mother has now moved off and we plan to sell the property. My mother's attorney told her that she would receive 1/2 the money from the sale and my sister & I would get the rest - is that true? I thought that the life estate meant that she would just be able to live there as long as she wanted, but my sister and I would get the money if we sold it.
Take the documents to your attorney and see what they say. It is always good to get a second opinion. Especially if this attorney isn't yours.
Lori
[addsig]
Your Mom has rights to the property so long as she's alive, so she'd need to sign a QC Deed to you so as to give you full rights to the property.
Even though she's moved off, you couldn't deliver good title without her deed of her remaining interest.