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Rainer
279,878
Dipti Thakkar
LAER Realty Partners - Andover, MA
On a team with Praful Thakkar

An attorney Question.

Jul 30, 2018 11:07 PM
Rainmaker
630,251
Ajay Pandya
e-Merge Real Estate Unlimited - Columbus, OH
Realtor Ajay Pandya

Attorney, please.

Mar 10, 2018 06:28 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Donna Lewis Stiles - Ocean City Realtor - check with the attorney is what I'd say and it seems everyone is of the same opinion.

Mar 18, 2015 03:44 PM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Donna, this is a question for somebody with a law degree!  This kind of stuff is way above our pay grade - unless you went to law school before you went to real estate school.

Mar 18, 2015 01:23 PM
Rainmaker
911,338
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

An attorney should review documents, wills, etc. If anyone got married, had kids, etc, they might automatically have become owners and could cause title problem. i once haad one where a will used the term " Unborn Heirs". We actually had to hire a seperate attorney to go to court and represent heirs that hadn't even been born yet.

Mar 18, 2015 08:37 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have listed life estates before.  There are forms that a real estate attorney should have for all parties to sign.

Mar 18, 2015 08:06 AM
Rainmaker
443,220
Cindy Davis
SD Home Source Realty - San Diego, CA

Get everything in writing, including agreement to sell the property, copy of estate paperowork, etc. I would also make sure the sellers have legal authority to sell the home.

Mar 18, 2015 07:41 AM
Rainer
3,400
Stephen Foster
San Antonio, TX

Get everyone that verbally agreed to something to agree to it in writing.  Better to settle any disagreements before closing than after.  By "owns property as a life estate" I take that to mean that the remaindermen own the property subject to her life estate.  Not sure if that changes my analysis but make sure everyone agrees to everything in writing.

Mar 18, 2015 07:19 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I would need to see a copy of the contract and talk to a few people.

Dec 24, 2019 11:53 PM
Rainmaker
938,537
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Donna, had to stop by and check the answers as I have not seen a case of a life estate since learning about it briefly in real estate school.  Thanks for the question.

Mar 19, 2015 09:39 PM
Rainer
66,666
Donna Lewis Stiles Tampa, St. Pete Beach FL
Realty Experts - Redington Shores, FL
Your Guide to Beach Home Living

Thanks everyone .. I have spoken with attorneys from my brokerage, and the seller's attorney .. seems like everyone has a difference of opinion.  

Mar 18, 2015 11:05 PM