Home arrow Mortgage Forums arrow Deeds, Property Transfer and Estate Planning arrow

Beneficiaries of LifeEstate Rights

Author Message
Icon Mini Profile paheser





Joined: 28 Sep 2009

Posts: 1

1.32 Dollars($)
Post Posted: Mon Sep 28, 2009 8:19 pm    Post subject: Beneficiaries of LifeEstate Rights
Like 0
Dislike 0

After my Mother died my brother, sisters and myself became owners of an 80 acre farm in Minnesota. We all have an equal right in the say as to what happens with this farm, Right? The problem being, one of my sisters has already sent the renter termination papers and is talking about selling the farm.
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10030
Location: Alaska
919.49 Dollars($)
Post Posted: Mon Sep 28, 2009 10:24 pm    Post subject:
Like 0
Dislike 0

Hi paheser!

Welcome to forums!

It is true that all of you have equal rights to the property. Your sister will not be able to sell her portion of the property. All of you will have to sell off the farm and then equally divide the money amongst yourselves. Or else, you and your other siblings can buy out your sister and ask her to transfer the property to you. Thus, she will receive her share of the money and you would also be able to save the property.

Feel free to ask if you've further queries.

Sussane
Culver

Guest







Post Posted: Sun Nov 13, 2011 8:31 am    Post subject: Probate
Like 0
Dislike 0

Are the Beneficairy of an estate allowed on the property while its still in probate
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



Posts: 10250
Location: ALASKA
1043.57 Dollars($)
Post Posted: Mon Nov 14, 2011 11:06 pm    Post subject:
Like 0
Dislike 0

Welcome Culver,

If the property is still in probate, then the beneficiaries won't be added to the deed. They will be added to the deed after the probate is over.

_________________
Procrastination is the enemy of your financial success
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
888-485-7561
Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool






Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.077 seconds.