Legal Question in Real Estate Law in Massachusetts

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

Short Answer:

Yes, it can be sold. You will probably need an attorney to seek court approval (via a guardianship/conservatorship. This is the approprate many to handle the existing life tenancy and to be able to convey "Good Title" to any new Buyer.

Re: real estate

I assume the life tenancy is recorded as part of a deed and not simply in a Will. If it is only by Will and the deed does not reflect a life tenancy, then she still owns the property completely.

You can sell the property if you have a valid durable power of attorney for her. If not you will have to go to court and have someone appointed as guardian and conservator for her.

Also, assuming the gift was made more than 5 years ago and there are no medicaid claims against the house the proceeds will be divided between your mother and the three of you. Your basis in the home will be her basis in the home as of the date you were given the life estate for capital gains purposes.

I suggest you contact an attorney like me who does both real estate and probate work.

Re: real estate

Not till she dies. I would need more information to determine the capital gains.