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OT: Lawyers, re a will, if the will states that

  • "I hereby will, devise, and and bequeath a life estate in and to my house and lot located at X to John Doe for and during the terms of his natural life", does that mean that John Doe can never sell the house? TIA.

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    thegodfather

  • I'm no estate lawyer, and it has been years since Burkhard inflicted his pain during property, but I believe the answer is he can only sell the life estate. He can in effect rent it during his lifetime but cannot transfer all rights in the property.

    Thomas Sumter

  • Correct.

    He cannot convey an absolute fee because the John doe has less than the full fee (a life estate). If he does sell the life estate, that estate is measured in john doe's life, not the person's he sold it to. It would then revert back to you, the original grantor or heirs.

    This post was edited by GOCOCKSnohomo97 on 2/17/2011 at 10:54 PM

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    GOCOCKSnohomo97

  • The above replies are basically correct, but you would be well advised to let an attorney read the entire will, regardless of how irrelevant the rest of it might appear to be.

    22Cock

  • GOCOCKS!nohomo said...

    Correct.

    He cannot convey an absolute fee because the John doe has less than the full fee (a life estate). If he does sell the life estate, that estate is measured in john doe's life, not the person's he sold it to. It would then revert back to you, the original grantor or heirs.

    I believe this is correct. The only thing John can sell is the life estate measured by John's life, not the purchaser's.

    For those of you with beach houses or second properties, this type of idea is a great estate planning possibility. You can keep a life estate and give the remaining interest to a trust for your kids. The gift has a low value because of the split interest and the property will be in trust going forward.

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    CockAtLaw

  • GOCOCKS!nohomo said...

    Correct.

    He cannot convey an absolute fee because the John doe has less than the full fee (a life estate). If he does sell the life estate, that estate is measured in john doe's life, not the person's he sold it to. It would then revert back to you, the original grantor or heirs.

    That's right. You can't give/sell anymore than you have. That whole bundle of sticks thing.

    uscboonie

  • Thomas Sumter said...

    I'm no estate lawyer, and it has been years since Burkhard inflicted his pain during property, but I believe the answer is he can only sell the life estate. He can in effect rent it during his lifetime but cannot transfer all rights in the property.

    Ha-ha. You got Burkhard. I got Spitz. At least something good happened to me in law school!

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    Regulator21