Legal Question in Wills and Trusts in Virginia
right of surviorship
My parents left me their home with right of surviorship, then to my son with right of survivorship and then to my grandson. The house will not rent for enough to pay taxes, insurance & repairs. Basically it turns into a liability for generations to come. What can we legally do to resolve this situation?
1 Answer from Attorneys
Re: right of surviorship
I believe that this so-called devise(meaning the home) may violate what's called the Rule Against Perpetuities, which, if true, would mean that the survivorship aspect of the inheritance would be null and void with respect to either you or at least your son, and that the property could as a consequence then be sold to whoever was willing to buy it.
You should consult an attorney in the area where the property is located who is versed in the law of real property and inheritance and who should be able to advise you on this particular matter.
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