Legal Question in Real Estate Law in Virginia
LIfe tenant and sale of land
When my mother died in 2004, I became life tenant of 77 acres in Virginia, with my 2 minor children becoming owners. They are in high school and wish to sale the land to pay for college. I have no desire to live on this land or use it in any way other than to sell to pay for their college--it is currently a tax burden for me. Is it possible to initiate sale of this with all in agreement and if so, do both children have to be 18 or older?
Thank you.
1 Answer from Attorneys
Re: LIfe tenant and sale of land
Yes, assuming that you in fact are the life tenant and your children are the residuary legatees under your mother's will, if all of you beneficiaries are in agreement that the property
should be sold, then it can be sold.
However, I would strongly suggest that you engage the services of an attorney in your locality to handle this transaction.
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