Legal Question in Real Estate Law in Ohio
Life Estate
What exactly does a life estate mean? I have POA for one Aunt who owns the property and another Aunt is claiming she has rights to this property because of a life estate. What does this mean and does she have any legal rights to the property?
Asked on 8/10/06, 11:47 am
1 Answer from Attorneys
Re: Life Estate
A life estate grants the person a life interest in the property, lasting for their lifetime. It may be an income interest or use of the property. It would be contained in a deed typically. If your power of attorney grants you authority, you may be able to revoke the Life Estate that your Aunt granted to your other Aunt. Ask her to prove her life estate and she should be able to show you the document granting it.
Answered on 8/10/06, 12:51 pm
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