Legal Question in Real Estate Law in Indiana
real estate law
My mother-in-law deeded her home in
Indiana to my wife, retaining a life estate, with further stipulation that by wife's brother would have a life
estate when she died. She passed in Jul. Who is the owner of the House?
If a mechanics lein is placed on the house.who would be responsible for payment of lien? Could the house be sold with the life estate on the property?
1 Answer from Attorneys
Re: real estate law
From what you have said, it would appear (assuming that all of the conveyances you mentioned are valid) that:
1. The wife's brother is the owner (in the case as a life estate tenant) of the house.
2. Your wife has a "remainder" interest in the house (she gets the house when her brother dies).
3. Both your wife's brother AND your wife would be affected by the mechanic's lien because that gives the lienholder the right to sell the house to a stranger to pay off the debt. So the two of them ought to get together to get the lien removed. It is a matter of negotiation as to whether one or the other, or both, contribute to any monetary settlement.
4. The life estate would not survive the lien foreclosure if the house was sold.
That's my take at first blush.
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