QUESTION

What is the best way for us to do with our mother's life estate?

Asked on Aug 23rd, 2013 on Estate Planning - Nebraska
More details to this question:
My sister put my mother’s house in a life estate. With it being in my mothers and seven siblings names. However, it has been almost 2 years since mothers passing, and the house is still in limbo. The two that are in charge of this and one other refuse to sign off on title unless they get at least $5,000.00 extra a piece. Is there anything the rest of us can do about our mother’ this as no one is paying the taxes either?
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12 ANSWERS

You will have to file a partition lawsuit in the state court.
Answered on Sep 11th, 2013 at 11:01 AM

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Admiralty / Maritime Attorney serving Monrovia, CA at The Law Office of Nathan Wagner
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If I understand you correctly, you and your siblings jointly own the house. If that is the case, you can force a sale of the house by going to court and filing a partition action. The judge would order the house to be sold and the money distributed.
Answered on Aug 27th, 2013 at 3:37 PM

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Accident Attorney serving Lagrangeville, NY at Marco Caviglia, Esq.
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I hope you mean that the siblings are the "remaindermen" who took title upon your mother's death. Anyway, this is not unusual when you have named 7 cooks to cook the stew. Contact a real estate attorney about a partition action to force the sale of the premises and presumably each will get 14.28% of the net proceeds.
Answered on Aug 27th, 2013 at 4:37 AM

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Business Planning Attorney serving Livonia, MI at Frederick & Frederick Attorneys at Law
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What is the extra $5k for? If taxes are not being paid, then the house will eventually be lost. Is the $5k to reimburse them for paying expenses? If the house is now in all 7 names, you could seek court action to force a partition action. The judge could order the house sold or have some of the other beneficiaries buy you out.
Answered on Aug 27th, 2013 at 4:02 AM

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Trusts Attorney serving Sacramento, CA at Law Office of Victor Waid
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Obtain yourself probate litigation counsel to file a petition to partition the property and force a sale, and upon close of escrow at which the proceeds will be divided according to the title held by the persons involved and any court order, do not pay any money to the other relatives.
Answered on Aug 26th, 2013 at 6:56 PM

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Sanford M. Martin
As described by you, you and your siblings are owners of the property. If you can't agree to a resolution, your alternative is to sell your interest (although who would want to buy it?) or court where a judge will decide the issue (a majority of siblings would likely influence the judge's decision)
Answered on Aug 26th, 2013 at 12:16 PM

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Probate Attorney serving Roseville, CA
Partner at James Law Group
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Hire an attorney immediately and go probate the house. If the taxes aren't being paid, while everyone argues, they could lose the house altogether. The house can be sold through probate and everyone will get their share. Don't wait because the county will sell it at tax sale and get there money.
Answered on Aug 26th, 2013 at 12:00 PM

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Thomas Edward Gates
The two should not get any extra money. Is the estate still in probate? If so, you can petition the court to sell the home. The mortgage, insurance, taxes, and maintenance is paid by the estate.
Answered on Aug 26th, 2013 at 11:31 AM

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Commercial Contracts Attorney serving Boise, ID at Peters Law, PLLC
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Somebody needs to file a civil case asking for the judge to force a sale of the property and for the money to be divided appropriately.
Answered on Aug 26th, 2013 at 11:17 AM

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Estate Planning Attorney serving Spanish Fork, UT at Prigmore Law
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A life estate is ownership of property that is only limited to your lifetime. Once someone passes, the life estate ends, and the person named as the eventual owner gets the property. Your description does not sound like a life estate, but sounds more like a Joint tenancy or a tenancy in common. You will probably need to take your title to an attorney just to verify what ownership you have. If you and your siblings are all shared owners, you can negotiate with your siblings for the sale of the home to one sibling or to a third party. If some of the other siblings refuse to cooperate or negotiate fairly, you can go to court and request that the home be divided, forcing a sale and equal division of the profits of the sale. This will be difficult to do on your own, and you may not come out ahead after the costs of litigation. If you want to avoid this problem for your own children, it is best to put the home in a trust that names a trustee who will have the duty and authority to sell the home and distribute the property according to the terms of the trust. If the trustee fails to perform their duty, the heirs can go to court and have them removed and replaced. If successful, the attorney fees would be paid out of the trust.
Answered on Aug 26th, 2013 at 11:13 AM

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Business Law Attorney serving Portland, OR
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Yes, file a legal action called a partition lawsuit. The court will order a sale of the house.
Answered on Aug 26th, 2013 at 11:03 AM

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Acquisitions Attorney serving Lincoln, NE at Jayne L. Sebby
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You can petition the probate court to force the sale of the house or the ones who refuse to sign off can buy out the other siblings' share of the property. If the taxes aren't being paid timely, the city or county can put the house up for sale for taxes and then none of you will get anything.
Answered on Aug 26th, 2013 at 11:01 AM

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