Legal Question in Real Estate Law in Virginia

Re: Valuation of life estate

This is an interesting question. I would think that you would likely need the services of a local real estate property appraiser as well as an actuary to get at least a "ball park" figure for the value of this particular life estate.

The appraiser should be able to figure the fair market value for the residence itself and the actuary should be able to calculate the probable time left for the seller to occupy it as well as any other relevant factors which should be figured into the calcuations to come up with a figure as to the value of this particular life estate.

Your local life insurance salesperson should be able to put you in touch with

an actuary or someone competent to handle such actuarial calculations.