Legal Question in Wills and Trusts in Texas
lifetime estate sale
I inhearted 93 acres of land along with my brother. Our stepmother has a life time estate on 5 of these acres with a undivided one-third interest in the rest of the land. Can my brother and I sell this land other than her 5 acres and do we need to split the money from the sale of the land with her. Also, if we sell timber off of this land do we need to split that money with her?
1 Answer from Attorneys
Re: lifetime estate sale
1. You can't sell your stepmother's 5 acre life estate.
2. You and your brother can only sell your undivided 2/3 interest in the 88 acres remaining. You can't sell your stepmother's 1/3. Since you'd only be selling your interests, you don't have to split that with your stepmother.
3. Since she has an undivided 1/3 interest in the land and its profits you have to split the timber sales with her. 1/3:2/3.
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