Legal Question in Real Estate Law in Puerto Rico

Land owned in Puerto Rico - Will or Power of Attorney

My grandmother owns land in Puerto Rico. This land is her only assets. We currently live in NJ. Her daughter wanted info, should grandmom fill out Power of Attorney or have a Will. My aunt wants to be able to distribute property among brothers and sisters when my grandmother passes away. What are our options. Hospital is seeking hospice care for her because family and hospital are not longer able to care for her and state is not away of property. Need help, grandmother does not know English and my aunt just doesn't know what to do. Thank you


Asked on 11/02/04, 3:36 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Land owned in Puerto Rico - Will or Power of Attorney

You do not say if the land will need to be liquidated to cover her costs of care. I suggest, as a quick way of doing things, put all of the childrens' names on the Deed now, along with her, naming the children as equal tenants in common with their mother, but with survivorship rights. On her demise, the children will inherit the property in equal shares and no probate will be required if that is her only property. There could be gift tax ramification, depending upon the value of the property, but this is a separate issue.

Read more
Answered on 11/02/04, 4:32 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Puerto Rico