QUESTION
Is there a way we can sell the home now while my stepfather's wife still lives there?
Asked on Aug 07th, 2014 on Estate Planning - Nebraska
More details to this question:
I have home in Arizona that was left to me and my brother by our mother and stepfather. My mother passed about 5 years ago and my stepfather last Christmas. He had remarried and gave his current wife rights to live in the home as long as she lives. She is 75 now. Is there any way to sell the home or do a contract sell while she remains in the home? We could sure use the money.
2 ANSWERS
These types of agreements, while made with the best of intentions, can become problematic. For example, did stepfather have authority to make this agreement? Is there a trust or will, or how is this accomplished? Who pays for upkeep and taxes? Might be a good idea to have an attorney review the documents, see whether the stepmother has a legal claim. If she does, minimally, it may be possible to negotiate with the stepmother.
Answered on Aug 11th, 2014 at 6:48 PM
Possibly you could sell the house but you would probably need to reimburse your step-father's wife for her loss of residence. Check with an attorney licensed in Arizona to be sure.
Answered on Aug 11th, 2014 at 10:06 AM