Legal Question in Real Estate Law in
If a settlement deed was executed by a father in fovour or his son (18 years)for a house in the name of the father, after retaining life interest for himself and his wife ,and the right to revoke at any time in his life time, who is the owner of the property in the life time of the father. The son has been given right to enjoy the house including the rental income.
3 Answers from Attorneys
since your father continues to have life interest for himself, therefore in the life time of the father, your father continues to be the owner whereas right to enjoy the house makes you his licencee during his life time
The deed has to be studied in full before any advice to you. As observed by you, your father had settled the property in your favor and yet has kep life interest for himself and his wife and also the right to revoke the deed.
Approach a lawyer with copy of deed for a categorical advise.
www.lawconcern.com
till the father is alive, it is the father who is owner and after his death, the power of attorney becomes invalid and the property has to be devolved through inheritance.
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