Legal Question in Wills and Trusts in New York

Re: Living Estate

Legally it can be sold, but practically it is unmarketable as is. This is because whoever buys the house would buy it subject to your father's life estate. In other words, while the purchase would have title they would not have a right to possess, rent or otherwise use the house until the death of your father. It is not enough to simply get consent from your father but the life estate would have to be extinguished. This will require a change in structure on the title. Once oyu have the house free and clear then it could be sold. I strongly suggest you talk to a lawyer who deals in trusts and estates, and your father.

If he does not want to convey or sell, you are stuck until he dies.

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Re: Living Estate

By providing for a life estate for your Dad, his right to live in the house restricts your ability to sell it. You need his permission (best evidenced by having him record a Deed from him to you terminating this interest), even if you agree that if you move he can continute to live with you. If you sell without his permission, the new owner is obligated and bound by his rights to continue to live there.