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Can life estate be auctioned off?

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laurahelmandollar Joined: 23 Jul 2011 Posts: 1 1.33 Dollars($)	Posted: Sat Jul 23, 2011 11:28 am    Post subject: Can life estate be auctioned off? Like 0 Dislike 0 Post Your detailed question here. I have a life estate in property I deeded to my son. Can a Company file a lein and auction off my life estate? 3 lawyers have given me 3 different answers. Can I modify The deed to take out the life estate?
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Sun Jul 24, 2011 9:45 pm    Post subject: Like 0 Dislike 0 Hi laurahelmandollar, As far as I know, lenders may place a lien on the property even though you have a life estate on it. You and your son can modify the deed and remove your name from life estate. Thanks
Laura Helmandollar Guest	Posted: Mon Jul 25, 2011 2:46 am    Post subject: Life estate Like 0 Dislike 0 Can I modify the deed to remove my name even though two lliens have been filed?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Jul 25, 2011 10:50 pm    Post subject: Like 0 Dislike 0 Hi Laura! Welcome to forums! You should contact a real estate attorney and check out if you can sign a quitclaim deed and remove your name from the property when there are two liens on the property. Feel free to ask if you've further queries. Sussane
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Tue Jul 26, 2011 9:43 am    Post subject: Like 0 Dislike 0 Hopefully, if you take Sussane's advice and seek out a real estate attorney, it will be the one of three that you have the most faith in to provide you with reasonable service and results. A fourth attorney in the mix is like too many cooks. You don't want spoiled broth, and you certainly don't need to muddy up your title any further, which is apparently the path this trek is taking you. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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