Legal Question in Bankruptcy in Texas

I live in Texas and need to file bankruptcy. I am trying to find out what my current remainder interest is in real property. 15 years ago my parents (Grantor's) conveyed real property to Me (Grantee) subject to a life estate for themselves. My father passed away a few years ago and his will gave everything to my mother in probate. Does that mean his portion of the property went to my mother? Is her share now greater that when my father was living? Dad was 85 when he died and my mother is now 85, the value of the property is 67,380.00.


Asked on 7/20/12, 4:07 pm

1 Answer from Attorneys
Keith Engelke Law Office of S. Keith Engelke

The issue here is the term of the life estate. If it is measured by the lives of your dad and your mom, then your interest remains burdened by the life estate. Accordingly your remainder interest would not have vested in you. It is not possible to know the term of the life estate without knowing what your parents owned when they conveyed the property to you and reviewing the language of their coveyance to you.

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Answered on 7/21/12, 6:06 am


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