Legal Question in Real Estate Law in New Jersey
Value of Life Estate
''A'' has a 60% ownership in Blackacre and a life estate in Blackacre. ''A'' wants to sell.
How do we value her life estate
interest?
2 Answers from Attorneys
Re: Value of Life Estate
you go hire a competent attorney, who will handle this for you.
Re: Value of Life Estate
Use IRS life expectancy tables, which should be on line at their web site, IRS.GOV This factors age only at the time of evaluation, as a percentage of actual value. Apply the percentage to the actual value to get the value of the life estate, reduce the actual value by this number (to get the value of the remainder interest), and then apply 60% to the result. This should give you her total value, life estate plus 60% of the remainder. This is a reply to an internet question and the response is not intended to be legal advice or as creating an attorney-client relationship.
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