Warranty deed with life estate vs will

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Icon Mini Profile carriemedina





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Post Posted: Wed Jul 23, 2008 9:52 am    Post subject: Warranty deed with life estate vs will
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in 2003 both of my parents (grantors) did a warranty deed with life estate listing myself as the (guantee) documented in court. both have since passed and now a sister and two brothers are probating a will dated 1996 that state share share alike. they have intered into the courts papers claiming each of their one-quarted. my questions would be can they sell the house with out notification, do they have the right to enter this in the courts?
Icon Mini Profile jheard
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Post Posted: Wed Jul 23, 2008 12:38 pm    Post subject:
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You own the house free and clear. It is not part of your parents' estate, so cannot be challenged in court by your sibilings. They cannot sell it.
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Disclaimer: This is not legal advice and I am not your lawyer. The information provided here is for educational purposes only, and is not a substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.
Johnny1

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Post Posted: Thu Jul 24, 2008 4:47 am    Post subject:
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Hello.

If you parents have used the Life estate then they are still owner and will remain owner of the property as long as they live. So read the deed thoroughly and check out the terms and conditions written on the deed. You can even review the deed by an attorney also.
andy borders

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Post Posted: Mon Sep 29, 2008 11:57 am    Post subject: life estate
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I WANT MY WIFE TO LIVE IN THIS HOME UNTELL SHE DIEDS. THEN I WONT MY TOW GIRLS TO HAVE THE HOME . ONCE WE SIGN THE PAPER I DON,T WANT IT CHANGED AFTER I DIE
Icon Mini Profile jerry
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Post Posted: Tue Sep 30, 2008 2:28 am    Post subject:
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Hi andy!

You can draft your will and include all these clauses in it. This will be the best option for you. If you are planning for a quitclaim deed, then you will have to mention the life estate clause in your wife's favor. You can also include the names of your daughters in the title of the property.

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Jerry
carriemedina

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Post Posted: Thu Nov 13, 2008 9:01 am    Post subject: Warranty deed with life estate vs will
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ref to the july 23rd posting, updat... my sister & brothers have since gone and posted interest in the property in the courts because they have the will is this legal? Since I have the warranty deed with life estate of the property given to me by my parents? HELP!
Icon Mini Profile jameshogg
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Post Posted: Fri Nov 14, 2008 1:58 am    Post subject:
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Hi carriemedina!

If your parents have given you a life estate, then you have the right to stay in the property until death. Moreover, referring to your July, 2003 post, you have mentioned that the will was drafted in 1996 and warranty deed was filed in 2003. In that case, the court will only consider the 2003 warranty deed as it was drafted later.

If they have posted their interest in the court, then that is illegal. You can challenge them in the court by taking the help of a lawyer.

Thanks.
Virgina Simcox

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Post Posted: Thu Aug 06, 2009 8:38 am    Post subject: life estate
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I have a life estate with my name on warrety deed . If there is a mortgage who pays ==his nephew is listed as owner after my death. Also who pays taxes and insurance. I live in Indiana
Icon Mini Profile jameshogg
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Post Posted: Thu Aug 06, 2009 8:42 pm    Post subject:
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Hi Virgina,

As the nephew is listed as the owner of the property, he would be liable to pay property taxes and insurance. However, if you wish, you can share the property taxes and insurance with the nephew. As far as the mortgage is concerned, it has to be paid by the person who is listed in the mortgage docs. If you have taken the mortgage in your name, then you would be liable to pay the mortgage dues.

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AC/DC hier

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Post Posted: Sun Oct 04, 2009 8:30 am    Post subject: same issues
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This is so interesting to me!! My husbands grandmother married a sneaky SOB, to avoid being taken for everything she had... my mother in law AC and her brother DC were granted a piece of property via warranty deed by the thier parents (step father) CP VP reserving a life estate for themselves. In 1975 a even sneaker attorney did a quit claim deed between the Parents CP and VP for some unknown reason it left out the reference to the previous warranty deed. (which from what i am hearing from our attorney they had no interest to do the quit claim deed in the first place) anyways VP suspisouly dies CP runs away with the nurse changes his will to exclude hiers of VP which is found out when he dies in 1998, woops CP sells the land via Warranty Deed in 1996 to SD. SD dies in 2003 where by excutors deed he give the land to KD his son. KD now has sold the land via Warranty Deed but the tittle is defective. WHen CP died 1998, AC contacted the attorney who drafted the Quit Claim deed takeing the land from them and tells her thier is nothing they can do. Now it looks like they still own the land after all. Thoughts?
Icon Mini Profile smithsussane
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Post Posted: Sun Oct 04, 2009 11:15 pm    Post subject:
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Hi Guest!

Welcome to forums!

This is a complicated issue and an attorney would be the best to help you in this case. If the property deed has been fraudulently transferred, then you can file a lawsuit and take steps to reverse the deed.

Feel free to ask if you've further queries.

Sussane
carriemedina

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Post Posted: Mon Feb 01, 2010 7:47 am    Post subject: Warranty deed with life estate vs will
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I have a warranrty deed with life estate on a property given to me by my parents in 2003. Can I transfer a warranty deed with life estate to my sons or will I need a will to leave it to them? What happens to the property after I die? Will my sister and brothers get the property because of the will dated 1996 that was probated?
Icon Mini Profile adonis
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Post Posted: Wed Feb 03, 2010 12:27 am    Post subject:
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Hi carriemedina,

You can sign a new warranty deed with a life estate clause in your favor and transfer the property to your sons. Thus, you won't have to draft a will. If your brothers and sisters are also co-owners of the property, then they would be able to claim their share. You can transfer only your share of the property to your sons.

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lillian

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Post Posted: Wed Feb 24, 2010 2:11 pm    Post subject: life estate interest in real property
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A mother conveyed property to her daughters and reserved a life estate, she later conveyed the property to her son by warranty deed. It's my opinion that she can only convey her life estate interest. However, that was not the case in the latter deed..who has ownership of the property, the daughters or the son
Icon Mini Profile adonis
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Post Posted: Wed Feb 24, 2010 11:07 pm    Post subject:
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Welcome lillian,

Your query has been replied to in the given page:
http://www.mortgagefit.com/propertytransfer/convey-son.html

Take a look at it. Hope it helps you.

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