QUESTION
My 2 siblings and a nephew were deeded property in the UP of Michigan reserving a life estate for our father.
Asked on Apr 27th, 2012 on Real Estate - Michigan
More details to this question:
He does not occupy or ever use the property and we (the remaindermen) are paying the taxes, ins., and upkeep of the property. Can we take possession of the property and can he allow anyone else to use it?
1 ANSWER
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The life estate will remain so long as your father lives, whether he uses the place or not, but he should have the legal ability to release it if he wants to. Have you asked him?
If he is willing to release his life estate, consult a good real estate attorney about getting a proper release drawn up. Unless there is unusual language in the deed establishing the life estate, a release should be a simple and inexpensive procedure.
Answered on Apr 30th, 2012 at 10:02 AM