Legal Question in Real Estate Law in Maine
In March 2004, mother quitclaim deeds property only (no residence) to three children, retaining a life estate. She is now confined to nursing home. Two children wish to sell their interest to third. First question is can they do so or must they have mother's permission? She is mentally incapacitated and one of the potential sellers is her guardian. Is that conflict of interest? Would their value be a fractual interest? What happens to life estate? Are sellers intitled to proceeds or does a portion go to mother?
2 Answers from Attorneys
The quitclaim deed that transferred the property will need to be looked at to answer these questions with certainty.
It sounds like the life estate may have terminated if the mother is no longer living there. The three children appear to be joint tenants in the property, and if they wish to sell their shares they can. The value would be 1/3 each. The life estate, if it is still active, remains. If it was just a life estate, then the mother would not take any proceeds.
I'd be happy to assist you further with this; feel free to contact me.
Until the life estate is extinguished by death or released it remains valid and encumbers the land. The life estate is not terminated if the mother is not actually using it. The children are free to convey their interests without mother's permission, even for payment, but the life estate remains. They do not need to share any proceeds with mother, and because the conveyances do not affect her life estate there is no conflict with the child who is a guardian. Be aware that for Mainecare purposes, the State does place a value on her life estate.
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