Q: Mother is 92, assisted living, signed life estate deed, Can we sell prop while she lives for her benefit?
Deed was signed against my desire. Brother and I are remaindermen. we have 3 other siblings. so i want to divide the remainder 5 ways, not 2.but first use for mothers care. Next, we will have to sort thru tax consequences.
A: Yes, you can sell the property, but she will have to join in the signing as her life estate as well as your remainder interests have to be transferred to the purchaser. If she is mentally unable to sign, then hopefully someone has a durable financial power of attorney for her so they can sign on her behalf for the sale of the property. Sign up for a free consultation to make sure all of the details are covered before moving forward.
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