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Is there a monetary figure assigned if a person chooses to sell a property that they have life rights to? A will is written as the "has life rights until they choose not too, at that time all property is to be sold and divided equally between 2 daughters"
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Usually life rights do not end when the person wants to, but instead end when the person's life ends. There is a way to value it based on the age of the person and the value of the property. An appraiser should be able to assist you with determining the value of the life rights.
Answered on Aug 02nd, 2014 at 9:55 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship