Legal Question in Real Estate Law in Maryland
My mother lives in my grandmother's homes with her but the house is in a life estate. grandmother has died. how can the estate be transfered to my mother? Thank you!
1 Answer from Attorneys
One of the nice features of a life estate deed is that it transfers property automatically on death. So whomever is listed as the "Remainderman" on the Life Estate Deed will automatically be in title when the life tenant dies. So simply check the deed to verify who now owns the property.
For parent/child transfers there is no need for additional deeds or paperwork to effectuate the transfer although the remainderman should keep a copy of the life tenant's death certificate on hand. If the person getting the property was not related to the life tenant they may need to identify the transfer on an Information Report for purposes of calculating inheritance tax.
I hope that this helps! If you want further information about a specific situation you may wish to contact an attorney directly.
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