Q: My MIL passed away two years ago. She had a Life Estate in the farmland she owned. There are 6 remaindermen living.
We owned two undivided shares in the property. One of the undivided share holders would not sign off on the property. The other 4 sold their interest to my husband whom his parents gave the absolute right to buy the property. Presently we own 6/7th share in the land. We would like to put the property in Life Estate to our two boys because this property is generational land. There has been a good amount of conflict with the remaining share holder. Our concern is he decides to file for partition and would go after our sons. Does Life Estate protect our sons from being sued and how would that affect us as Life Tenants.
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A: If a partition suit is filed, it must include all interested parties to the real property. I am not familiar with ND law, but the Courts cannot usually sell the life estate interest unless it is agreed to. At this time there are no life estates, only six tenants in common whose remainder estates have vested in possession. A title search by a ND attorney might disclose another title relationship. You two conveying life estates to the Sons will complicate any partition action filed by the 1/6 TIC.
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