Posted on: 24th Feb, 2010 01:20 pm
A mother conveys property to daughters reserving a life estate interest.. Later she executes warranty deed to her son..Can she convey the real property after she has conveyed property to her daughters. In other words who owns the proprty
Hi Guest,
If the mother has transferred the property to the daughters initially and maintained a life estate right for herself, then she will not be considered the owner of the property. She only has the rights to stay in the property until death. Thus, she will not be able to transfer the property to her son as the daughters are the owner of the property. As far as I can understand, the daughters are the owner of the property.
If the mother has transferred the property to the daughters initially and maintained a life estate right for herself, then she will not be considered the owner of the property. She only has the rights to stay in the property until death. Thus, she will not be able to transfer the property to her son as the daughters are the owner of the property. As far as I can understand, the daughters are the owner of the property.
If a mother signs a Warranty Deed Reserving Life Estate and gives her property to her 3 children, can she then borrow money on the property? and if she later writes a will giving the property to her son alone does that over ride the original document? If she borrowed money on the property after signing the original document can the mortgage company foreclose on the house after she dies if the children don't pay the loan or does the loan have to be paid from her estate?
Hi Guest!
Welcome to forums!
I've given my suggestions in regards to your query at:
http://www.mortgagefit.com/propertytransfer/about39528.html
Take a look at it. Hope it helps you.
Sussane
Welcome to forums!
I've given my suggestions in regards to your query at:
http://www.mortgagefit.com/propertytransfer/about39528.html
Take a look at it. Hope it helps you.
Sussane