Legal Question in Real Estate Law in Massachusetts
My mom signed over her house to me and my three siblings. She is elderly and has alzheimers and lives in a nursing home. The deed lists us four siblings as grantees and tenants in common. The deed has some kind of life estate wording. I want to realize my portion of the value of the home now but my brother says that can't happen till mom passes. I don't get it....she no longer owns the property right? Help me understand this legal mess. Thanks much!
1 Answer from Attorneys
While I have not seen the deed which put the home in your three siblings and your name, it is likely your mother retained a life estate. This is why it would be difficult for you to sell the home now and collect your "share". Even if you were able to get the home sold, your interest would be substantially less than 25% since your mother's life estate would be paid first and her interest is based on a 110 year life expectancy.
So I would suggest you wait until your mother dies.