Legal Question in Real Estate Law in Georgia
Life Estate
the state of Georgia
In december 2002 my Uncle Quit Claim deeded his home to me. At the time he was living in a retirement home. His (2nd)wife had moved back into her previous residence due to her medical condition. In March 2003 my Uncle then passed away and in his will there was a life estate allowing his wife to live there as long as she lives. The reason the house was deeded to me was it was clear to him at the time that she would no longer be able to live in the house and he did not want her children living there. The will also gives the home to me when she passes anyway.
My question is since the house was sold or Quit Claimed to me before his death, can the Life Estate be enforced? She has not lived in the since November 2002.
Help Please!
2 Answers from Attorneys
Re: Life Estate
The definition of a life estate is exactly that. An estate in the property for the duration of that life. Occupancy is not required. Your aunt can rent it out and receive the income for the rest of her life if she so chooses. However, she is required to maintain the property and pay the taxes so as not to erode the value of your residual estate. If she is not protecting your interests, you may have a claim and should contact a real estate attorney.
Re: Life Estate
You are asking about the meaning of documents. One cannot answer your questions without reading the documents. As a general rule, a will operates only upon property owned at death. If I don't own it, it does not matter what my will says. I can leave someone a million dollars ... but if I don't own a million dollars ....
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