Legal Question in Wills and Trusts in Florida

Re: Selling a home with lifetime estate

Let me give you a general answer because without looking at what you have in writing, it would be impossible to diagnose your situation. If you were given a life estate, then you were given a very specific form of ownership. Think of property transfers as an apple pie. If the original owner only gave you a slice (as represented by the life estate) then you only have that slice and you may only have the right to eat it. If you don't eat it, you generally have to give it back. The original owner retained the rest of the pie. Now this analogy only works just so far, but I think you might be getting the picture. So generally, without the original owner who retained a remainder interest in the property, you probably don't have the right to transfer the property. In most life estate situations, you are also liable to the original owner for any damage to the property if not returned in the original condition. As alawys, consult with an experienced estate planning attorney that can advise you on what to do and not to do. Hope this helps.

Re: Selling a home with lifetime estate

To be clear, you have title to the property and the people living in it who transfered it to you have a life estate. That gives them the right to live their for their lives.

You are allowed to sell the property. Your sale would not sell or affect the life estate. For that reason, it os often difficult to find people that will but a property encumbered with a life estate.