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07-24-2006, 10:51 PM
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Life Estate Questions
My father left a life estate of his home to his second wife, with my brother and I as grantees upon her death. However, at age 81, she has been moved to an assisted living center in another town. If a Quit Claim agreement is filed, and we sell the house, is she entitled to receive a monetary "equity" in the property? If so, how much should she be entitled to? Should the cost of repair prior to the sale of the house come out of the total amount, or should she be liable for repair of the house prior to sale?
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