Posted on: 21st Jul, 2007 06:27 pm
I just received the interest from a quitclaim deed from my dads property which was auctioned off to pay past taxes. My dad had my name and someone else whom I don't know put on this quitclaim deed. My dad lived in Fla and myself in Ky. On the quitclaim deed stated a life estate. He didn't leave me anything in his will only this quitclaim interest. Like I said I received the money from the interest but I'm still confused about the life estate part of it. The property was auctioned and purchased and myself and this other person on the deed still own a part of the lot I'm assuming. How do I find out how much of the part I own and what it meant by life estate on the quitclaim deed. Thanks for any help on this as now I don't know how to research answers for my questions.
Sylvia, life estate means that the person given a life estate will have the rights to live in the house for remaining part of his life.
You will have to contact the attorney who made the will to know the details of your father's will and who was given a life estate on this property.
Miller
You will have to contact the attorney who made the will to know the details of your father's will and who was given a life estate on this property.
Miller
I have copies of my dads will and he left me nothing. Everything went to his step-sons. He didn't live on the property that he quitclaimed when he passed away. Plus the property that he did quitclaim to myself and this other lady was put up for auction and I didn't know anything about. The county clerks office said that certified letters were sent but mine wasn't sent to me here in Ky but to the address in Fla of the home that was auctioned. So the clause of life estate was on the property he quitclaimed to myself and other lady. The owners that won the auction hasn'r tried to contact me to buy my part of the lot, whatever that entails. Totally confusing to me as I don't want that part of the lot and don't know how to go about selling it and getting a fair price. Maybe I should contact the owners but even then I might not get a fair offer. The other lady on the quitclaim deed with me has passed away and so her heirs will get het share of interest. We were put down as tenants in common.
"Totally confusing to me as I don't want that part of the lot and don't know how to go about selling it and getting a fair price."
The best thing for you will be to consult an attorney to work on your behalf. He will be able to take legal action so that you get a fair price for the portion you were quit claimed.
The best thing for you will be to consult an attorney to work on your behalf. He will be able to take legal action so that you get a fair price for the portion you were quit claimed.