Legal Question in Wills and Trusts in Alabama
State purchasing property left to me. My dad has only a lifetime estate on same
My grandmother left me her home and property when she died. She gave my dad a lifetime estate in the same property and at his death I receive it all totally. The state is building a highway that will go thru the livingroom. The deed is in my name and the will has been probated 9 years ago. The state has been dealing with my dad without my knowledge until last Thursday. They settled on a price and they ran a title search and found my name. My dad and I are not on good terms for 9 years. What are my rights? How will this be divided? I do not want to purchase another home for him to live in. Is there a chart based on age on how the money will be divided? He is 74 and I am 45. This past Friday one day after I learned all this the real estate person my dad had been working with told me she talked to the lawyer closing the properties for the state and they want to condem the property. Please give me some insight.
Thank you for your help.
1 Answer from Attorneys
Re: State purchasing property left to me. My dad has only a lifetime estate on s
If DOT condemns it all, they have to pay the condemned value of father's (Life Estate) (LE) (use actuarial tables in the OCGA -- there are 3 of them used to value these types of estates), then they pay you the remainder, being the value of your ownership, less the value of the LE DOT paid father. So he gets a check and you get a check and, so sorry, he has to move somewhere else. Unless there is enough of the uncondemned house for him to live in to the end of his LE. How does one determine the size of your check versus the size of father's check vs. DOT desire to pay nothing for the property to begin with? Appraisal voodoo. DOT's appraiser vs. your appraiser vs. father's appraiser (however, few LE in this position hire counsel or appraisers). If you want to actually do something about this, email [email protected] or contact us on our website. However, be aware, LawGuru is free, but we charge for our time. HCW