Q: I have a 1/2 undivided interest & life tenancy in a home. If I move out, don't I still have 1/2 interest in the property
I'm 80 and want to go live with relatives out of state. I have life tenancy in my house and the warranty deed I set up says I have "one half undivided interest in the property for and during my natural life." I want to know if the remainderman has unrestricted right to do whatever he chooses if I vacate the property. Do I still have any control over the property IF I no longer live in it? Can I stop the remainderman from selling or renting out the property OR enforce getting a share of any profit?
A: If you move out you retain your 1/2 interest. You can sell your interest to the remainderman. If rent is collected, you are due 1/2 of this after expenses. IF he sells the property it will be subject to your life estate. One cannot sell what one does not have, and the remainderman does not have your 1/2 interest in a life estate.
For starters, I would record your interest in the property at the clerk of the Superior Court for your county. This would protect your interest should the remainderman attempt or actually sell the property. See an attorney.
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