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My mother inherited a life estate in a tract of land, with the remainder to her children at her death. If she deeds the land to us now, before she dies, are we free to deed it to another party? If we deed the property to another party, will that person have fee simple title to the property? The property is in North Carolina.

Niicss · Posted: Tue Jul 01, 2008 3:52 am Post subject:

Welcome Jackie.

Are you trying to say that your mother has inherited a tract of land and used a life estate deed? If it is so then she needs to cancel the life estate deed and use a fresh quitclaim deed to transfer the property so that you can sell the property. So is she willing to transfer the property to you?

Let me know if you have any further queries.

jheard · Posted: Tue Jul 01, 2008 12:33 pm Post subject:

If the remaindermen also receive the life estate, both estates merge and the remaindermen own the property in fee simple. In plain english: the children own the property 100% and can sell it at will.

Guest

If there are defered taxes on the property and state in the states statue that the property cant be sold or transfered does that void out the deferment program and the owner has to pay the excisting taxes to date

adonis · Posted: Sun Aug 10, 2008 10:22 pm Post subject:

Welcome ecurbm,

I suppose if there are deferred taxes, one has to pay them if he's into selling the property or transferring it to someone. By the way, which deferment program did you opt for?

Guest

can i cancel the life estate deed and use a fresh quitclaim deed so i can transfer the property so that i can seel it.

jameshogg · Posted: Tue Jan 12, 2010 11:09 pm Post subject:

Hi bruce,

Your query has been answered in the given page:
http://www.mortgagefit.com/propertytransfer/life-estate-sister.html

Please take a look at it. I hope it'll help you.

Thanks

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