Legal Question in Wills and Trusts in Maryland
Life Estate with Remainderman
Can a Life Estate be terminated prior to the Life Tenant's death if the Remainderperson and Life Tenant agree (they are father and daughter) The ''evil'' brother and sister of the Life Tenant hold what the attorney who wrote the Will say are ''paper title holders'' were never intended to handle any financial affairs or interfer with the Life Tenant's farming operation. They have done everything in their power to stop the farming operation and keep the Life Tenant from earning a living. This is a large estate and the mother who owns an undivided 50% of the 200 acres on this particular farm is incompetent and has Guardians who 2 would go along with the Life Tenant and Remainderperson. Can you offer any help?
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1 Answer from Attorneys
Re: Life Estate with Remainderman
If this is a life estate deed with powers the original grantor (life tenants) can unilaterally terminate via a new deed.
If this is a life estate without powers the life tenant cannot conduct any further busness concerning the real property without the reaminderman jopining with him
The "evil" children hold no power and they WILL NOT inherit any part of the real property at the father's demise. Titling of an asset always controls over a WILL. The do NOT even own an unvested future interest in the property.
The only caveat would be liigation to set the deed aside and same is expensive and if the father was competent at the time of execution of the deed, probably not suceede.
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