Legal Question in Wills and Trusts in Texas

Sale of life estate interest

My wife died without a will two years ago. She could not work and had no assests other than a house. Nothing has been probated. She had the house prior and I made payments for 4 years with our joint ''community money'' and the last two years since her death on my own. While she had 3 children who have the majority interest, I understand I have a ''1/3 life estate.'' Although I can rent and keep all the proceeds during my lifetime, what if the house were to be sold with the agreement of the children, does the 1/3 mean that I would receive one third the proceeds with the remainder going to the children? What about any improvements I have made since my wife's death?


Asked on 7/29/04, 5:43 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Sale of life estate interest

The best you could sell is your life estate, and that sure isn't worth 1/3 of the sale price. You get what you could negotiate with the children. Any improvements are for your comfort, if living there, or increased rentals if renting.

Read more
Answered on 7/29/04, 6:59 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Texas