Legal Question in Real Estate Law in Minnesota
Life Estate
How do you change the
names(survivors) in a Life Estate?
2 Answers from Attorneys
Re: Life Estate
Your question raises a number of issues for me. Who is trying to change the names? Is it the fee owner? The holder of the life estate? The remainderman? Someone else?
What is the reason for the change. It may be that other things need to be changed, too, such as a will, revocable trusts, title to other property, bank accounts, etc. I would recommend you speak to a competent attorney.
DISCLAIMER: This is not intended to be legal advice or to create an attorney-client relationship. No such relationship is intended until both parties sign a retainer agreement.
Re: Life Estate
You would execute a new series of deeds. You should contact a lawyer to give him or her an overall view of what is trying to be accomplished. There is a new type of deed (Transfer on Death Deed) that might be of interest, depending on what is desired by the parties.