Legal Question in Real Estate Law in Florida
Fractional Interest
My mother left my brother and I a home in Florida after her death. My sister has a lifetime estate to the home. She is 68. My brother and I cannot agree as to what needs to be done with the house. I was wondering if I can sell my interest and how do I go about selling I am also interested in donating my interest as well.
1 Answer from Attorneys
Re: Fractional Interest
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
Yes, a partial interest can be sold or donated. Generally, you will not find much interest from anyone other than the other interest owner in buying less than the whole property especially do the life estate of your sister which takes precedence. You can also donate your interest to a charity if you wish.
Scott R. Jay, Esq.
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