Legal Question in Wills and Trusts in North Carolina
my parents put the deed to there propriety in me and my sisters name. but they have living right here. but three years ago they moved to a new home and they wanted me to have the old one so i have been here for three years. it needs allot of work done to the house so we went to ask sister if we could bye the other half and she dont want to give it or sale it to me. parents want me to have it tho, what is my legal rights here if i put a new home or fixed it up can she do anything?
1 Answer from Attorneys
Your parents created a life estate deed. The home is theirs for life. Some life estate deeds have provisions which allow your parents to sell the home during their life, most don't. Your parents will probably want to contact the attorney who created the deed and ask what can be done. When they pass you and your sister will each own a 1/2 interest in the property. She will not owe you any money for improvements and she doesn't have to sell you her interest. Moreover, she could move in with you.
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