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the remainder interest holders are buying out the remaining 1 of 2 life tennants per there request and are relocating. Can this be done by completeing a quit claim deed for the purchse price of the percent entitled to the life tennant? And would you recommend a signed agreement of any type to be signed?

gmakerley · Posted: Thu Nov 19, 2009 10:24 am Post subject:

i think it's always advisable to put the terms of a buyout in writing, don't you?

Guest

I do agree on an agreement. We would like a purchase agreement, do you know or have seen any other type of another agreement. Can be a simple one, non threating? And if so could you provide or provide me direction as to where I could find.

gmakerley · Posted: Thu Nov 19, 2009 10:43 am Post subject:

i cannot help along those lines - my suggestion is that you engage an attorney to help you.

gmakerley · Posted: Thu Nov 19, 2009 10:44 am Post subject:

but of course, you would want an attorney who's not only well-versed in real estate, but also in matters of estates, estate planning, etc.

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Buyout of Life Estate- state of MN