vintagelocks
07-26-2007, 09:48 AM
I was tennant in commons with my mother and she had a life estate in the property. It was a deed from my mother and father to my self and my mother for a sum of money. in 1983.
I just recently found out that my sister slipped a deed tranfer by my mother in 2004 which deeded my mom's 1/2 interest to my other 3 siblings with my mom retaining a life estate.
With out going into the gory details my sister thinks this now divides the property 4 ways. My lawyer has assured me that my mother could only transfer what she owned, 1/2 interest. My father passed in 1993.
Question do I need to have a new deed made showing myself as owner of 1/2 undivided interest? Or does the original deed that made me tennant in common with my mother enough?
Will a title search propduce my deed showing me to be a owner before anyone could legally sell?
Will I be able to negotiate for my portion if we do decide to sell?. Can I ask a price for my portion for example and offer owner financing or a land contract on my interest?
They now plan on sitting back and making my mother and I keep up the house and pay all taxes with no input. I just want to be able to protect my interests later and they not try and sell without my participation.
Can I transfer a share of my portion to my daughter and retain a life estate for my self?
or
Can I just give my daughter a life estate.?
If I do the repairs needed can I get that back at a sale or do I only get half minus my mortgage?
I quess I am still a remaindeman in my 1/2 interest even though my mom transferred her 1/2 interest?
Thank you for any ideas and help
Thank you
I just recently found out that my sister slipped a deed tranfer by my mother in 2004 which deeded my mom's 1/2 interest to my other 3 siblings with my mom retaining a life estate.
With out going into the gory details my sister thinks this now divides the property 4 ways. My lawyer has assured me that my mother could only transfer what she owned, 1/2 interest. My father passed in 1993.
Question do I need to have a new deed made showing myself as owner of 1/2 undivided interest? Or does the original deed that made me tennant in common with my mother enough?
Will a title search propduce my deed showing me to be a owner before anyone could legally sell?
Will I be able to negotiate for my portion if we do decide to sell?. Can I ask a price for my portion for example and offer owner financing or a land contract on my interest?
They now plan on sitting back and making my mother and I keep up the house and pay all taxes with no input. I just want to be able to protect my interests later and they not try and sell without my participation.
Can I transfer a share of my portion to my daughter and retain a life estate for my self?
or
Can I just give my daughter a life estate.?
If I do the repairs needed can I get that back at a sale or do I only get half minus my mortgage?
I quess I am still a remaindeman in my 1/2 interest even though my mom transferred her 1/2 interest?
Thank you for any ideas and help
Thank you
